Loan Application

Thank you for your interest in securing a loan through Neighborhood Lending Services, Inc. (NLS) To begin the Loan Application Process, please plan to meet with one of our Loan Originators.

To obtain an appointment , please call our main number (773) 329-4010.

Please bring the following documents to your appointment so that your loan application can be completed and we can begin processing your loan request promptly.


Loan Application Checklist

  • Copy of purchase sales contract or offer to purchase, and all addenda signed by the buyer and seller if you are applying for a loan to purchase a home
  • Copy of current mortgage(s) statement(s) if you are applying to refinance your current mortgage, or for a loan to make Home Improvements
  • Government identification with picture (drivers license, state issued ID card, passport, Matricula) for all borrower(s).
  • Verification of Income Sources for all borrower(s):
    • W-2 forms from the previous two years
    • Pay stubs for the last 3 paychecks showing total earned for year to date.
    • Employment history. Name and address of employer(s) for the last two years and dates of employment and income. Explanation of recent gaps in employment, if one month or longer.
    • Other income. Provide documentation of other income received for the past 12 months, if such income will be used to qualify – such as Social Security, SSI, Disability, etc.
    • Bank statements for the past 2 months for all checking and savings accounts, including names, addresses, account numbers and balances of depository institutions (i.e. banks, credit unions and savings banks). All pages of all statements are needed, even if blank.
    • Federal Tax returns. Previous 2 years of personal federal income tax returns and all schedules. You will also be asked to sign a Form 4506T in order to verify your tax returns.
    • Credit information. For each open credit card account, provide the creditor’s name, address, account number, payment amount, current balance, and letter of explanation for any credit problems.

 

Other Helpful Info

  • Stocks, bonds and investment accounts. If these are being used for your house purchase, you must supply the name and address of the broker and previous 2 months’ statements or copies of the stock certificates. A list of serial numbers and issue dates may be acceptable for verifying bonds. All pages of all statements are needed, even if blank.
  • IRA/Retirement plan. An approximate value of vested interest and a copy of the most recent statement will be needed.
  • Life insurance policies. Name of insurance company, policy number, face amount, and approximate cash value of each policy will be needed.
  • Automobiles owned. Include information of the make and year of each automobile owned and current market value.
  • Downpayment. You must have at least 3% of your own cash as the down payment. NHS will verify that the money is yours and has been in your possession for several months.
  • If you need a purchase-rehab loan, the NHS Construction Specialists will assist you by assessing your property for needed repairs and prioritizing them; writing the scope of work; and reviewing contractor bids for selection by the homeowner. Licensed, insured contractors must perform all repairs.
  • If you are currently renting, you will need your landlord’s name, address, phone number, and/or previous 12-month rental payment history. Canceled checks and rent receipts are acceptable.
  • If you are self-employed, you will need the previous 3 years’ Federal income tax returns (and all schedules) plus the current year-to-date Profit and Loss Statement and Balance Sheet.
  • If you are divorced or separated, you will need a copy of the divorce decree or maintenance agreement, along with any amendments, plus a 12-month payment history of alimony/child support payments if payments are being used to qualify for the loan. You must provide either check stubs or copies of both the front and back of each check.

 

PLEASE NOTE

Please bring as much of this information as possible with you to your appointment for a loan application. This list is meant to be a guide and, depending on your individual situation, additional information or documentation may be required. Once your loan application is in processing, your NHS Loan Specialist will contact you regarding any additional information that is needed.

 

For More Information

To obtain an appointment, please call NHS’ main number, (773) 329-4010.

To view locations for our neighborhood offices or to e-mail us, Please Contact Us!
 

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