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The following items are required to process most mortgage applications. Additional items may also be required. A Lendarm mortgage counselor will provide a more complete list during the application process. The sooner that you are able to provide these items, the better we will be able to serve you.
Standard Documentation for Each Applicant
- Home address(es) for the previous two years
- Your Social Security number(s)
- Employment information for the previous two years including employer name, address and phone number
- Income information including salary, overtime, bonuses, commissions, dividends, interest, retirement and any other source of ongoing income
- Liquid assets including bank name, account type, balance, and source of down payment
- Other assets including the value of bonds, stocks, life insurance, retirement funds, jewelry, automobiles, etc.
- Liabilities including creditor names and outstanding balances for all debts including notes payable, 401(k) loans, life insurance loans, stock pledges, alimony, child support, co-sign loans, credit union loans, and other liabilities
- Real estate owned including property address, market value, outstanding liens, rental income, mortgage payments, taxes, insurance and maintenance dues
Standard Documentation Types
Full Documentation
Complete employment, income and asset verification.
Limited Documentation
Copies of bank statements for the most recent 12 months will be accepted for verification of income and employment.
Stated Income Documentation
Income stated, not verified; Verbal VOE required. Assets fully verified.
No Income/No assets Documentation
Income neither stated nor verified; verbal verification of employment required. Assets neither stated nor verified.
No Documentation
Employment, income and assets neither stated nor verified.
Standard Real Estate Documentation
Purchase contract
Planned Unit Development (PUD), condominium or co-op
- Name of development or project
- Phone number of the homeowner's association (if available)
New construction:
- Year land or lot was acquired
- Original cost of land/lot
- Amount of liens
- Estimated cost of construction
Refinance loans:
- Year property was acquired
- Original cost of the home
- Cost of improvements
- Amount of liens
- Description of improvements
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