What information will be needed for the application (and how it's kept private)

Anything you submit over our website is 100 percent, fully secure. And we never, ever share it with anyone except by specific permission and is never sold to third parties.-- mortgage lenders are bound by federal law to keep your information secure.

Here is a list of the information and documents you will need to supply to process your loan application. The information listed below is pretty much standard, there may be other documentation needed specific your your situation.

For all loans

Social Security Number, for borrower and co-borrower if any

Employment History
For the last two years, employment dates, addresses, salary.
Current pay stubs or W-2 forms.

Check and Savings Accounts and Certificates of Deposit
Bank accounts, account numbers and ; 
 most current 2 months' statements

Stocks, Bonds, and Investment Accounts
Broker's name and address, description of stocks, bonds, etc. 
Most current statements or copies of stock certificates

Life Insurance Policies if it has a cash balance and you wish to use it for qualifying purposes.
Insurance company, policy number, face amount, cash value, if any

Retirement Plan
Approximate vested interest value
Copy of latest statement

Automobiles
Make and model of automobiles, their resale value

Other Assets
Market value of personal and household property

Liabilities and Other Non-Mortgage Debt
Creditors names, addresses, account numbers
Monthly payments and balances

Other income information you may need

If you're self-employed
Two years tax returns, profit and loss statements, and all schedules both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA may be required.

If you have income from:
Commission
Bonus
Partnership
Rental Property
Trust
Notes Receivable
Interest/Dividends
You'll need two years' personal federal tax returns

If employed in family business
Personal federal income tax returns and all schedules for the past two years

If divorced or separated
Complete executed divorce decree and settlement agreement
Payment history of alimony/child support over the past 12 months, if it is a financial obligation.
If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting support payment deposits.

If you own real estate

Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances, these should be on your credit report.

Current monthly statement for all homes owned.

Current insurance policy statement for all homes owned.

If you've sold your home but not closed:
A copy of the sales contract

If you've sold your home, closed, and you will use the proceeds for your new down payment:
A copy of the HUD-1 Uniform Settlement Statement

If you rent

If you pay your rent to a management company we will need to know the amount of rent and the Name, address and phone number of the management company for the past 24 months.

If you pay rent to an individual, we will need canceled checks for the past 12 months 

If you're buying a home

Purchase sales contract or offer to purchase and all addenda
Furnish contract with signatures of buyer and seller

If a source of your down payment is a gift:
Name, address and relationship of donor.
Gift funds will be verified in both the donor and recipient's accounts.
Note: Not all loan programs allow gifts to be part of your down payment.
There are specific verification procedures for gifts, contact us for specific instructions.

For FHA Financing
Evidence of Social Security Number and photo identification

For VA Financing
DD214 and Certificate of Eligibility

For Construction/Perm Loan
Signed construction with cost breakdown, builder plan and specifications


Southern Trust Mortgage 2130 Priest Bridge Drive, Ste 5 Crofton, MD 21114
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