Information needed at Loan Application
Note: The information below is for fully documented loans. Reduced documentation and stated income loan requirements vary. Please call for complete details.
- W-2 (Two years) and current pay stubs, Self-employment, or 1099
- Tax returns from previous 2 years
- Landlord name & telephone (last 2 years), if applicable
- Employer name, address, telephone (last 2 years)
- Asset information (past 2 month’s statements where your funds to close Escrow are)
- Information on Stocks/Bonds/401K, etc.
- Name & telephone number of Realtor
- Name & telephone number of Escrow.
The Farm Loan Process
- Pre-qualification/Pre-approval (Credit report run)
- Formal loan application taken
- Escrow and Title ordered
- Appraisal ordered
- Income and Asset information verified
- Complete loan package submitted to Underwriter
- Loan approved
- Obtain and forward to Underwriter any additional items that may be required
- Interest rate locked
- Loan documents ordered and set to Escrow
- Loan documents signed by Borrower(s)
- Final Pre-closing conditions sent to Lender
- Loan funds wired to Title
- Loan and Grant Deed record, Close of Escrow