Information Needed at Loan Application:

Picture ID with proof of Social Security Numbers.
Residence Addresses –  past 2 years.
Names and Addresses of each employer  – past 2 years.
Gross Monthly Salary. Base only & Bonus list separate.
Names, Addresses, Account Numbers & Balances of all checking & savings accounts  – last 2
months of bank statements.
Names, addresses, account numbers, balances, and monthly payments for all open loans.
Names, account numbers, balances, and monthly payments of all credit cards.
Addresses of other real estate owned.
Loan information on other real estate owned.
Estimated value of furniture and personal property.
Certificate of Eligibility and DD214 ’ s  ( VA only ) .  
Money for Credit report and appraisal.
W2 ’ s  ( 2 years )  and current check stub.
Copies of filed 1040  ( last 2 years ) .  
Full Divorce decree if applicable

The Appraisal
Having an idea of what is involved in appraising a piece of property can greatly help in maximizing the appraised value and avoiding costly details
and re-inspections. The appraisal process consists of several steps. The following are the major steps in the sequence normally followed by ap-
praisers.
1. Research the subject property as to size, bedrooms, baths, year built, lot size and square footage.
2. Gather data of recent sales in the subject’ s  neighborhood. The appraiser needs to locate at least three and preferably more similar-sized homes
which have sold and closed escrow in the neighborhood. The homes need to be within one mile of the subject and sold within the last 6 months.
These homes are considered the  ‘Comparable Properties ’  or  ‘C omps ’   for short.
3. Field inspections consist of two parts: first the inspection of the subject property and second, the exterior inspection of the comparable properties
which have been selected to estimate the value of the subject property.