Loan Application Documents
Below are lists of commonly requested information you should expect to provide when you apply for your loan. You may be asked for additional documentation, depending on your situation.
- Pay stubs—Past 30 days' pay stubs with year to date information for all jobs and for each borrower
- W-2s—Past two years' tax forms
- Asset statements—Most recent two months' statements for any assets listed on the application, such as savings/checking/retirement accounts, 401k, etc.
- Copy of driver's license or government ID
- Proof of homeowner's insurance—Agent name, phone number and proof of insurance
Preapproval information collected
Personal information:
- Social Security number
- Date of Birth
- Email Address
- Phone Number
- Current Address
- Previous Address if you've been in your current residence for less than two years
Employment information:
- Employer's name and address
- Previous employer's name and address if you've been at your current job less than two years
Other income & expenses information:
- Gross income amount, including secondary income, if applicable
- Asset information, including the value of your banking, investment retirement and other accounts
- Current expenses, such as utilities, credit card and loan payments, child support and other obligations
Purchase borrowers—additional requirements
- Estimated down payment
- Estimated purchase price
- Address of property you're purchasing, if available
Preapproval borrowers can supply this information after they sign the purchase contract.
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Disclosures and Assumptions
Disclosures
Subject to underwriting approval. Application required; not all applicants will be approved. Full documentation & property insurance required. Loan secured by a lien against your property. Fees & charges apply and may vary by product and State. Terms, conditions & restrictions apply. Taxes & insurance extra. Recent rate shown for closed or committed loans, but rates, loan products & fees subject to change without notice. Your rate and term may vary. If you do not lock in a rate when you apply, your rate at closing may differ from the rate in effect when you applied. Consolidating or refinancing debts may increase the total finance charges you pay over the life of the loan and/or the time needed to repay the loan. Important information relating specifically to your loan will be contained in the loan documents, which alone will establish your rights and obligations under the loan plan. Call for details.
Accelerated Payoff Program
Under the Accelerated Payoff Program, you can have partial mortgage payments withdrawn from your bank account on a weekly, bi-weekly, or semi-monthly basis. Full monthly mortgage payments are applied to your loan once a month. Over a 12-month period, you'll make the equivalent of one extra monthly mortgage payment, helping to reduce your loan balance quicker than scheduled.
Clear Advantage Refinance Package
Get more than just a great rate
Your home loan is one of the most important decisions you'll make. That's why we've created the Clear Advantage Refinance Mortgage Package.
Get the most of your refinance today, tomorrow, and beyond.
A competitive rate is just the beginning
- Pay no application fee
- Save thousands in interest over the life of your loan when you set up weekly or bi-weekly payments with our Accelerated Payoff Program, and reduce your mortgage by nearly 5 years (on average)
- Fewer bills to keep track of when you sign up for automated withdrawals — ask your loan specialist for details
Experience you can count on
With over 25 years of experience, GMAC Mortgage provides you with licensed loan specialists who will be with you every step of the way.
Questions?
Speak with a Loan Specialist
1-877-941-4622
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