This checklist will assist you in assembling the information MCAS Beaufort Federal Credit Union will need to process your loan application. By bringing these items with you when you apply for your loan, you will ensure your application is processed and closed in the shortest time possible.
All loan applications require:
1. Copy of your purchase contract, signed by all buyers and sellers (for purchase transactions)
2. Original pay stub(s) covering the last 30 days, for all applicants
3. Original W-2 forms for the last two years, for each applicant
4. Original credit union/bank statements for the past 2 months, for all checking and savings accounts
5. Name, address and phone number of landlord for the last 24 months, if you are currently renting or have rented in the past 24 months.
6. Original 401K and IRA statements (if applicable)
7. Original investment account statements for the past 2 months (if applicable)
8. A check for payment of the application deposit (funds necessary to order an appraisal and credit report)
If you are applying for a VA Loan, you also need to bring:
1. Original VA Certificate of Eligibility
2. Form DD-214 or for in-service veterans, Statement of Service
3. Most recent Leave and Earnings Statement (in-service veterans only)
4. Name and address of child care provider (if applicable)
If you are self-employed or have commission income, you will need to bring:
1. Copies of your last two years personal and business federal signed income tax return
2. Year-to-date profit and loss statement and balance sheet (self-employed only)
If you have been divorced, you will need to bring:
1. Complete signed copy of all divorce decrees including any stipulations or modifications
2. Proof of receipt of child support payments for the last 3 months (only if your intend to use this income to qualify for your mortgage loan or if you are required to pay child support)
You may need to provide these miscellaneous items also:
1. If you have graduated from high school or college during the last two years, enclose a copy of diploma
2. If during the past 2 years you have a gap in your employment of 30 days or more, include a letter explaining the reason for the gap in employment
3. If you have sold your present home, you will need to provide your lender with a copy of your signed HUD-1 Settlement Statement showing the amount of proceeds (if the sale of your home is not yet complete, please provide your REALTOR's "Estimate of Proceeds")
4. If you have rental property, you will need to provide a copy of your current lease and copies of your last two years signed federal income tax returns
5. If you are receiving a "gift" for part of your down payment, do not deposit the check prior to visiting with us.
6. If you are being relocated by your employer, provide a copy of your company's relocation policy
If you have any questions on the items you need to bring with you when you apply for your loan, please give us a call at 843-846-2266.
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