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The advent
of the computer age means that for even the most demanding of loans,
the paperwork burden on our applicants has been significantly
reduced. Prostar is committed to making the mortgage process painless,
less
time consuming and as easy as possible.
If this is
your first mortgage, you're in luck. If you are an old hand at
mortgages, you'll be pleasantly surprised.
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Here
is a handy list of the most frequently required documents for the
most common types of loans.
The
type of loan you apply for will determine the exact information
needed for the approval process. Some loan products
require additional information, some loans require even less. Your
Prostar advisor will be with you every step of the way. After all,
our reputation for getting the best loan at the best rate with the
least hassle is why we are so often recommended.
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Income
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The
names, addresses and phone numbers of your employer(s) for the last two
consecutive years (The dates of employment
and gross monthly income included)
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W-2s
for the last two years and pay stub(s) for the last 30 days
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Supporting documentation for any other income
(i.e., Social Security, pension, dividends, or alimony)
If
you are self employed
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Year-to-date profit and loss statement and balance sheet prepared and signed by an accountant and you
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Signed tax returns for the last two reporting years
(business and personal, with signatures,
photocopies are OK, and include all schedules)
Assets
Your
bank statements, for the last 3 months only, and/or passbooks for the following
(include current names, addresses, account numbers, and
balances):
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Checking and savings accounts
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Credit unions
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Security accounts (stocks, bonds, life insurance, IRAs, 401(k)s, etc.)
Liabilities
If
applicable, any documents related to the following (with letter explaining
circumstances):
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Judgments.
Provide copy of release/satisfaction
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Bankruptcy. Provide copies of:
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Other delinquent credits of record
Property
Schedule of real estate owned, name of lender, account number, original purchase price, principal balance, monthly payment, copies of rental agreement
(leases only), type of property, etc..
Other
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Addresses of residences for the last two years
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A
copy of your diploma or transcripts. if you were a full-time student at any time in the past two
years
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Social Security Number
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Copy of Divorce Decree
(if applicable)
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If you are a resident alien, evidence of permanent residency issued by INS
(a.k.a. green card) Depending upon the product and program for which you are applying, additional information may be
required
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