Financial Calculators and Articles - 7 Documents You Need Before Applying for a Loan
As of 11-5-25
Here are seven essential documents you typically need before applying for a loan:
1. Proof of Identity:
- Government-issued photo ID (e.g., driver's license, passport).
- Social Security number or Social Security card.
2. Proof of Income:
- Recent pay stubs (usually last two or three months).
- W2 forms or 1099s for self-employed individuals.
- Tax returns (personal and business, if applicable) for the last two years.
3. Employment Verification:
- Employment verification letter or contact information for your employer.
- A recent job offer letter if you are starting a new job.
4. Credit History:
- Consent to pull your credit report (most lenders will do this themselves).
- Information about any existing loans or debts.
5. Bank Statements:
- Recent bank statements (last two to three months) for all bank accounts.
- Statements for any investment accounts or retirement accounts if required.
6. Collateral Documentation (if applicable):
- For secured loans, documents that demonstrate ownership and value of the collateral (e.g., vehicle title, property deeds).
7. Other Financial Information:
- Details of any other assets you may have (e.g., other properties, stocks, bonds).
- List of monthly expenses to help demonstrate financial stability.
Be sure to check with your lender, as specific documentation requirements may vary based on the type of loan you are applying for (e.g., mortgage, personal loan, auto loan) and the lender's policies.
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