Applying for a Home Loan?

Get started on your home buying journey with ASCU!

If you are a first time home buyer, you may be wondering how to apply for a home loan and you may have a lot of questions.  Our experienced team will guide you through the home buying process.  Gather the following documents and information and get started today.

ITEMS NEEDED TO PROCESS, CLOSE AND FUND YOUR LOAN

 APPLICATION & IDENTITY VERIFICATION

• RESIDENTIAL LOAN APPLICATION  All sections complete and all disclosures signed.
•  CO-BORROWER APPLICATION If applicable. All sections complete and all disclosures signed.
• COPIES OF SOCIAL SECURITY CARDS AND PHOTO IDENTIFICATION

INCOME VERIFICATION

• Complete 1040 from the last 2 years (federal tax returns)
• W2s from the last 2 years
• Payroll Check Stubs for the last full 30 days.  (2 pay stubs if paid every 15 days or 4 is paid weekly)
• Self Employed Individuals: If your income is from self-employement, please provide:
• A current balance sheet and year to date income/expense statement, signed and dated
• Current year to date profit and loss statement, signed and dated
• Copies of business & personal Federal Income Tax Returns for past two years, signed and dated

VERIFICATION OF FUNDS

• Checking account statements – Copies from the last three months
• Savings account statements – Copies from the last three months
• Investments – Copies of latest available stock, bond, mutual fund, IRA, and 401K statements

CHILD SUPPORT – If you wish child support to be considered as a basis for repayment

• Copy of recorded divorce decree
• Proof of receipt of payment for the last 12 months

BANKRUPTCY AND DELINQUENCY DOCUMENTS (if applicable)

• Letter explaining past delinquency on your credit report, if applicable
• Copy of original petition for bankruptcy, if you applied for bankruptcy within the last 7 years
• Copy of recorded discharge papers and all schedules of discharged accounts, if applicable

FIRST MORTGAGE DOCUMENTS (existing mortgage if applicable)

• Mortgage year-end statement or current month-end statement showing principle balance
• Tax assessor’s statement for current property

HOME OWNER’S INSURANCE INFORMATION

• Insurance Company Name:
• Agent’s Name
• Agent’s Phone
• Policy #
• Expiration date
• Deductible for insurance cannot be greater than $1000