Buying a Home in Wichita:
Important Items for Home Loan Applications

For a more streamlined home loan approval, have these items ready when you make an appointment with a mortgage company to apply for your home loan:

Income Items

• W2 forms for the last two years

• Most recent pay stubs covering a 30 day period

• Federal tax returns for the last two years, if:
  - you are self-employed
  - earn regular income from capital gains
  - earn sizable interest income, etc.
  - earn more than 25% of your income from
  commissions or bonuses
  - own rental property
  - or are in a career where you are likely to
  take non-reimbursed business expenses).

• Year-to-Date Profit and Loss Statement
  (for self employed)

• Corporate or Partnership tax returns
  (if you own more than 25% of the business)

• Pension Award letter (for retired individuals)

• Social Security Award letters
  (for those on Social Security)

Asset Items

• Bank statements for previous 2-3 months

• Statements for all stocks, mutual funds, bonds, etc.

• Copy of latest 401K statement (or other retirement assets)

• Explanations for any large deposits

• Gift letter (if some of the funds come as a gift from a family member - the lender can supply a blank form)

Note: many people get their statements of various kinds over the internet and these are not always acceptable to lenders, especially when the printed version does not contain the borrower's name, account number, and the name of the institution.

Credit Items

• Landlord’s name, address, and phone number (if you rent - for verification of rental)

• Explanations for any of the following items which may appear on your credit report:
  - Late payments
  - Credit inquiries in the last 90 days
  - Charge-offs
  - Collections
  - Judgments
  - Liens
  - Copy of bankruptcy papers if you have filed
     within the last seven years

Other

• Copy of purchase agreement (if you have already made an offer)

• Receipt of child support

• Copy of Divorce Settlement

• Copies of twelve months canceled checks to document actual receipt of funds