LOAN APPLICATION CHECKLIST

  FIRST STEP: 

Complete the Arch Mortgage Application online > CLICK HERE>>>


In general, the documentation you will need includes:
Photo (Driver's License and/or State Issued ID)

 IN GENERAL, THE DOCUMENTATION YOU WILL NEED INCLUDES:
Photo (Driver's License and/or State Issued ID)
Mortgage Statement (most recent 2 months) showing current payment for mortgage principle, taxes, and insurance.
Statements for all liquid assets (checking, savings, money market, stock, profit sharing, IRA's, annuities, 401K, etc.) NOTE: We need ALL pages of any statement
Personal Tax returns for the most recent two years filed (all pages, and all schedules to be included).

 INCOME & ASSETS:

Pay stubs covering the most recent 30 days (within 30 days of closing as they become available)
  For the past two years:
 

Names, addresses and your term of employment for each employer

W-2's for the two most recent years
If you have made any large deposits to your accounts:
 

Explanation and source for deposit.

If large deposit was a gift:
 

Signed gift letter (lender can supply).

Copy of gift check.

Copy of deposit receipt.
  If you own more than 25% of a business:
 

Corporate or partnership tax returns.
  If self-employed:
 

Business tax returns for the last three years (with schedules including K1s). If an extension was filed, a copy of the IRS Extension filing will be required.

Year-to-Date Profit and Loss (P&L) Statement prepared by an accountant, especially for any years where taxes have not yet been filed.
  If you own rental property:
 

Tax returns for the last two years and current rental agreements.
  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 child support agreement (and divorce decree if applicable).

Copy of twelve months of cancelled child support checks.

DEBTS & LIABILITIES:

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 (bring a copy of your bankruptcy papers).

VA LOANS:

Copy of DD Form 214, Report of Separation.

 MISCELLANEOUS:

If there is a Community Association or Homeowners Association, the amount of your Association Dues and a copy of the last two months statements showing this.
A copy of your Homeowner's Insurance Declarations Page showing the premium amount.
If applicable, a copy of your divorce decree.



 



 

Arch Mortgage Corporation

2560 RCA Boulevard, Suite 114
Palm Beach Gardens, FL 33410