Items Necessary for Loan Application

1. Copy of driver’s license *

2. Copy of social security card *

3. W2 forms & Tax Returns – (2004 and 2005) and one current Month’s pay stubs

4. Current Address (2 Year History) – Landlord Name, Address, and Phone Number *

5. Employment Address (2 Year History) *

6. 12 months canceled rent checks

7. Contract of Sale and/or  Legal Description of the Property

8. Latest 3 Month’s Bank Statements (All Accounts) *

9. Open Loans: Account #’s, Balance, and Monthly Payment

10. Real Estate Owned: Loan #, Address, Balance, and Monthly Payment

11. Self employed or Commissioned Income: Last Two Year’s Tax Returns with all                                 

      schedules and Year-To-Date Profit & Loss

12. Check for Credit Report ($68.25) and Appraisal ($400), if an Application is to be started *

13. VA Certificate of Eligibility or DD214

14. Bankruptcy, Provide Discharge Documents, Initial Bankruptcy Filing and any other                                            

      documents

15. Difficult credit issues. Provide Necessary Documents

16. Refinance. Provide latest settlement package to include survey, deed, payoff/mortgage coupon, previous 

      Title Policy and Hazard Insurance policy.

17. Log in to our secure website under “Customer Login” in order to view your loan progress online. 

* These items are required for every application, no exceptions!

DO’S and DON’Ts While Your Loan Is In Process

DO’S

DO keep originals of all pay stubs, bank statements and other important financial documentation. Lending Services, Inc. is required to update any documents that are over 30 days old prior to the closing of your mortgage loan (this is required even if your loan is approved).

DO provide all documentation for the sale of your current home (i.e. sales contract, closing statement, employer relocation/buyout program).

DO notify your Loan Officer if you plan to receive gift funds.

DO notify your Loan Officer of any employment changes (i.e. change of employer, recent raise/promotion, change of pay status, such as salary to commission scale, etc.).

DO return all calls to your Loan Officer or the Financial Team and provide additional documents that may be required.

DON’Ts

DON’T Miss or avoid appointment & or calls with your Loan Officer or the Financial Team.

DON’T change jobs/employer without inquiring about the impact this change would have on the approval/approvability of your mortgage loan.

DON’T make major purchases during or prior to closing (i.e. new car, furniture, appliances, electronics) as this may impact your qualification ratios. Please confer with your Loan Officer to have him calculate what your ratios would be with any additional debts.

DON’T obtain and/or deposit sums of money over $500 without notifying your Loan Officer FNMA/HUD guidelines require documentation as to the source of these funds (i.e. copy of bonus check, copy of tax refund, copy of insurance settlement, gift letter with copy of check and deposit slips, etc.)

DON’T close/open or transfer any asset accounts without inquiring for the proper documentation required for your loan file (i.e. you transfer all the funds in your stock account to your savings account, documentation is required.)

DON’T open or increase any liabilities, including credit cards, signature loans, etc. during the loan process. Please check with your Loan Officer for any documentation that will be required and what impact this would have on your qualification ratios.

Lending Mortgage Services, Inc.

Toll Free: 888-650-LMSI

Office: 410-647-5550

Fax: 410-431-7226

156 Ritchie Hwy, Severna Park, MD 21146

Revised 5/23/08