Home Loan Checklists
Home Loan Purchase Checklist
Here is a list of some of the things you will need to make it easier to complete your application when you’re applying for a loan to purchase a home.
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Your employment history for the past two years. You’ll need your employer(s) name, address and phone number.
Income information for all borrowers. You’ll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income.
The price of the home you are buying, and how much you’d like to borrow toward the purchase.
The address of the property you are planning to purchase.
Bank and brokerage account information, including the institution name and current balances.
If you own any real estate, we’ll have some basic questions including, address, current market value, the amount you owe, the rental income you receive (if any), and what your monthly payment is.
Information about your current debts. We’ll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.
Refinance Checklist
Based upon the type of refinance you are doing, some, or even most of the items on this checklist may not be necessary.
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Your employment history for the past two years. You’ll need your employer(s) name, address and phone number.
Income information for all borrowers. You’ll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income.
The year you purchased the property being refinanced, its original cost, current loan balance and payment amount.
Bank and brokerage account information, including the institution name and current balances.
If you own any real estate (other than the property you’re refinancing), we’ll have some basic questions including, address, current market value, the amount you owe, the amount of rental income you receive (if any), and what your monthly payment is.
Information about your current debts. We’ll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.
Second Mortgage Checklist
Here is a list of some of the things you will need to apply for a second mortgage.
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Buying your dream home starts with the right home loan
When making a purchase as big as a house, you can be confident RCU will help you find a home loan that's just right for your needs.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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