Loan Application Instructions

Conforming and Non-Conforming Loans

Interest Only

Payment Option ARM

Home Equity Loans (Second Mortgage)

Alternate-A Lending

Reverse Mortgages

Real Estate Settlement Procedures Act

Truth-In-Lending Act (Regulation Z)

Equal Credit Opportunity

Fair Credit Reporting

Credit Reports and Credit Scoring

Predatory Lending

Ethics in Mortgage Lending

Fraud in Mortgage Lending

Loan Application Instructions

Document Checklist and Instructions

A properly documented loan application makes your loan process go smoothly. This checklist will help you gather your paperwork.

Complete and sign the residential loan application, Form 1003, and the attached loan info sheet, credit authorization and fair lending notice. Page 4 of the application is a continuation page in case you need additional space for your assets or liabilities. If you make a mistake while filling out the application cross it out, and make a change. Do NOT use whiteout.
If you are salaried: provide W-2's for the previous two years and one month of paystubs. If you are self-employed, provide tax returns for the previous two years, including all schedules, and a YTD profit and loss statement. (Note: provide copies of all requested documents. Do not provide original documents.)
If you own rental property, provide recent rental agreements and tax returns for the previous two years, including all schedules.
To speed up the approval process, provide bank statements for the most recent three months, and recent statements for stock, mutual funds and IRA/401K accounts.
If you are requesting a cash out refinance, provide a letter explaining how you will use the refinance proceeds.
If applicable, provide a copy of your divorce decree and settlement agreement.
If you are NOT a US citizen, provide a copy of your green card (front & back). If you are NOT a permanent resident provide a copy of your H-1 or L-1 visa.
If any borrower has filed bankruptcy, provide the Discharge Notice, Filing and Schedule of Creditors.
If you are applying for a home equity line of credit or loan (second loan), also include your first mortgage note. (This should be with your closing loan documents.)

Advantage Financial Funding Corp. - The Commons at Lincoln Center - 124 John Robert Thomas Drive - Exton, PA 19341
Office Phone: (610) 594-8880 Fax: (610) 594-6884 Toll Free Phone: (800) 578-8400

Licensed and Regulated by:

Pennsylvania Department of Banking Pennsylvania Department of Insurance Pennsylvania Real Estate Commission