What Should I Bring To Apply For a Mortgage?

Thinking of applying for a mortgage at the Lake of the Ozarks? First Bank of the Lake is here for you. We want to make the process as easy as possible for you and want you to be prepared. That's why we are sharing the following important information with you in this week's blog. Keep reading to learn what all you need to have to apply for a mortgage loan at First Bank of the Lake. If you have any questions about this process, please give us a call. We can be reached at (573) 348-2265.

Mortgage Loan Application Checklist

• Copy of purchase contract, signed by all parties if this is a purchase transaction.
• Copies of your past two years W2 and/or 1099 forms.
• Copies of your most recent pay stubs covering 1 full month of pay.
• Copies of your two (2) most recent statements or quarterly statements of all bank accounts, investment accounts and retirement accounts, listing all assets for loan approval. Account owner’s name, bank name, account number and all pages must be included.
• Copies of your past two (2) years Personal Federal Tax Returns with all schedules.
• Copy of Driver’s License (or valid ID).
• Name, address and phone number of current landlord.
• If you are self-employed or own 25% or more of any company, copies of tax returns, S Corporation returns and/or Form 1065 (K-1) for partnerships, as well as your personal returns for the past two years. A year-to-date profit and loss and balance sheet signed by you or your accountant may also be required.
• If you receive income from rental properties, copies of your past two years Federal tax returns are required. All schedules must be included.
• If you are retired and receive income from Social Security and/or pensions, please forward a copy of your most recent Social Security Award Letter and a copy of your retirement awards letter or some other documentation to include name and address of provider.
• Signed Credit Authorization

Information Needed on all Properties Owned

• Copy of most recent mortgage statement.
• Copy of most recent homeowner’s insurance declaration page.
• Copy of Real Estate Tax Paid Receipt. 

First Bank of the Lake is Here For All Your Mortgage Needs!

Many people may seek a mortgage this year with a huge drop in interest rates since the COVID-19 pandemic started. To learn more about our mortgage loans and the process here, please give us a call. We can be reached at the number listed below and you can also follow us on our social media channels listed below to stay up to date on our latest announcements.

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Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100

Osage Beach, MO 65065

(573) 348-2265