First item on the checklist - leave your worries behind! Our experienced mortgage professionals have helped thousands of customers with their mortgage loans and they will be walking you through every step of the way. We know what documents are required to complete your loan application and at which stage of the process. Our commitment to you is to make the loan process as hassle-free, fast and smooth as possible. This checklist will help you organize the items you will need to provide to us but...don't worry, we will be with you every step of the way.
In general, the documentation you will need includes:
Check for application fee - New Penn Financial does not charge one!
Property Information (if you already have a contract on a house)
Purchase Agreement.
Copy of legal description and MLS sheet.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).
Income & Assets
Pay stubs for the last 30 days.
For the past two years:
Names and addresses of each employer.
W-2s
Statements for each bank, mutual fund, and 401K account to show reserves (or assets to close for purchase loans).
If self-employed:
Tax returns for the last two years (with schedules).
Year-to-Date Profit and Loss Statement prepared by an accountant.
If you are retired:
Pension Award Letter.
If you receive Social Security:
Social Security Award Letter.
If you are counting child support as income:
Copy of divorce settlement.
Copy of twelve months of cancelled child support checks.
Debts
Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
Bankruptcy filed within last seven years (submit a copy of your bankruptcy papers).
Miscellaneous
Photo ID and proof of Social Security number.
If applicable, a copy of your divorce decree.
New Penn Financial, LLC 4000 Chemical Road Suite 200 Plymouth Meeting, PA 19462
