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Serving the greater Schuylkill County region,
including Pottsville, Orwigsburg, Schuylkill Haven, Lake Wynonah,
Pine Grove, Minersville, Frackville, Tamaqua, Hometown, Hamburg, Hegins, New
Ringgold, Deer Lake, Tower City, Tremont and Shenandoah |
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Home> Home Buying Tips>
What You Need for a Credit Application
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What You Need for a Credit Application |
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Employment Information:
- Addresses for two full years
- Gross monthly income
- W-2's, if applicable
- Proof of pensions, retirement, disability or Social Security
- Proof of income from rentals, investments, etc.
- Year-to-date pay stub
If self-employed:
- Two years 1040 tax returns
- Current year profit and loss statement
Creditors:
- Each creditor's name, address, type of account and address
- Account numbers
- Monthly payments and approximate balances
- Amount of child care expenses
Banking:
- Names and addresses of savings/checking institutions
- Account numbers for all accounts
- Type of accounts and present balances
Miscellaneous:
- List of assets in stocks, bonds, land
- Life insurance cash value (documented if used as a cash down
payment)
- If applicant is selling a home, a copy of sales contract
- Social Security numbers for all parties
- Veterans - Certificate of Eligibility and DD-214
- Cash or check to pay for application fee
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| Remember, now that you
are preparing for homeownership, your monthly debt ratio can
affect the monthly house payment the lender allows. Start saving
right away so the lender sees as much money in the bank as
possible (and as little debt)! This is not the time to buy a car,
new furniture, new appliances or even apply for credit cards! |
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