Application Checklist

APPLICATION | APPROVAL | CLOSING | CHECKLIST

The following items are needed to process your loan application. Additional clarification/documentation may be required upon receipt of this information. If you cannot locate one or more of the required documents listed, contact your Millennium Loan Officer for instructions on how to obtain duplicates or acceptable substitutes.

Home Purchase Loans

Provide a copy of the sales contract with original signatures along with a copy of any earnest money check paid for deposit toward the home purchase.

Refinance Loans

Provide a copy of the warranty deed and any current mortgage and/or bill payoff information (copies of last statements). Also provide a copy of the current tax and home insurance expenses. Provide a check for payment of appraisal and credit report fee.

Residency

If you have rented within the last two years, please provide:

Complete address
Landlord information (Name, address, and phone)

For income provide the following

No Doc - No income documentation needed.
No Income - We just need the name of your employer to begin the process.
Stated Income - List your income along with proof of at least 2 years work experience.
Full Doc - please provide the following:
1. Past two years W-2 or 1099 forms.
2. Past two years tax returns for any persons who are self-employed, commissioned, or using bonus or investment income to qualify. Also, year to date profit and loss statement.
3. Last 30 days period of pay stubs (including bonus and/or commission pay).

Assets

Bring two months original bank statements (all pages) on all checking, savings, credit union, and investment accounts (including retirement). To document liabilities please provide:

Current balance and minimum monthly payments.
If recently paid off, then copy of the payoff statement.

Divorce or Separated Persons

Bring a complete divorce petition and signed, recorded final decree and/or separation agreement.

Rental Properties

Provide copies of current leases and tax returns.

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