Banking and financial checklist by MagillaWhen applying for a loan, most of our lenders will require the same financial information. Each lender has different criteria, however essentially you’ll need to submit the same pieces of information. It’s a good idea to gather your financial documentation before you start the application process, so you have it ready and can answer questions quickly if needed. So use our checklists as a guideline to ensure you have everything prepared for the lender.

Home Loan Checklist:

🔲 Tax Returns: 2 years of personal tax returns, 2 years of W-2’s, include applicable K-1 schedules and 1099 statements
🔲 Bank Statements: 3 months of bank statements
🔲 Investment Statements: Include 3 months of statements for any stocks, bonds, mutual funds, IRA, 401k, any other investments
🔲 Award Letters: Include award letters if you are collecting social security, pension, disability, any other income
🔲 Personal Financial Statement: This is generally provided by your bank

Business Loan Checklist:

🔲 Tax Returns: 3 years of business tax returns, 3 years of personal tax returns, include applicable K-1 schedules (one for each owner/guarantor with 20% or more ownership)
🔲 Bank Statements: 2 months of business bank statements, 2 months of personal bank statements (one for each guarantor)
🔲 Business Statements: Profit and loss statement, balance sheet, (current) accounts receivable aging report
🔲 Personal Financial Statement: This is generally provided by your bank (one for each guarantor)