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Application Checklist

 

In order for Altra Federal Credit Union to ensure the timely closing of your loan, please provide the following items within 5 business days of completing your application:

 

General Information

The following information is usually required during the loan process:

  • Your Social Security Number
  • Current pay stubs – provide two most recent dated within the last 30 days showing year-to-date earnings
  • W-2 forms for the most recent two years
  • If self-employed:
    • Provide your signed Personal and Business Federal tax returns for the past two years
    • Provide Current Profit and Loss statement
  • Bank statements for the past two months – must include the account number and your full name
  • Investment account statements for the past two months – must include the account number and your full name
  • Retirement account statements for the past two  months – must include the account number and your full name
  • Proof of Homeowners Insurance
  • Application Deposit
  • Legal Documents (if applicable)
    • Bankruptcy discharge and all schedules
    • Divorce decree

 

Purchase

If you are purchasing, the following information is usually required in addition to General Information:

  • A signed copy of the Offer-To-Purchase including addendums and any Counter Offers
  • Seller’s Condition Report
  • Ernest Money receipt

 

Refinance

If you are refinancing your existing loan the following information is usually required in addition to General Information:

  • Copy of the title insurance from your most recent loan closing

 

Construction

If you are building, the following information is usually required in in addition to General Information:

  • A signed copy of the Offer-To-Purchase including addendums and any Counter Offers (if applicable)
  • A signed copy of the  construction contract from the general contractor/builder
  • Copy of the plans and specifications with a cost breakdowns (also known as a spec sheet)