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Worksheets/Checklists

Qualification Worksheet download fillable PDF

Monthly Income

  • Borrower’s gross monthly income (before taxes) $______________
  • Co-borrower’s gross monthly income (before taxes) $______________
  • Other verifiable income $______________
  • Total income $______________

Monthly housing expense

  • Principal & interest + taxes & insurance $______________
  • Homeowner’s association dues, or $______________

Total monthly housing payments (a) $______________

Total monthly payments of all other debt (Revolving plus installments) (b) $______________

Total monthly obligations (Add a + b from above) $______________

*Total housing expense divded by income = $________ % (should not exceed 28%)

**Total obligations divided by income = $________ % (should not exceed 36%)

Equity Line Worksheetdownload fillable PDF

How much equity do you have available (for a Piedmont Prime Equity Line) loan?

  1. Write the estimated value of your home. $______________
  2. Multiply the estimated value times 80%. $______________
  3. This figure is used to estimate the funds available for your equity line. $______________
  4. Write the remaining balance of your current mortgage. $______________
  5. Subtract the amount on line 4 from the amount on line 3 to get an estimate of the maximum amount available for your equity line. $______________
Application Checklist download fillable PDF

Use this checklist to make sure you have all the important information you’ll need for your loan application.

1. Your Personal Data
  • If purchasing, provide a copy of signed and dated sales contract and legal description of the property you’re buying.
  • The address and phone number of all employers for the previous two-year period. Be sure to have the exact dates of employment with each employer (month and year), and we must have correct addresses to send employment verifications.
  • Copies of your W-2s for previous 2 tax years.
  • Copies of your 2 most recent pay stubs if paid monthly, 3 most recent pay stubs if paid bi-monthly, bi-weekly or weekly.
  • Self-employed individuals please provide signed dated tax returns with all tax schedules for the last two years, year to date P&L statement and a balance sheet.
  • Current awards letter for social security income, VA benefits and retirement income.
  • Social Security number.
  • The address of where you have lived for the previous two-year period. If you rented, provide landlord’s name, address and phone number.
2. Your Assets
  • All bank balances, account numbers, names and addresses of banks.
  • All stocks and bonds owned.
  • Market value of all real estate owned, payment amounts and taxes.
  • If rental income is received, signed and dated tax returns for the previous two years.
  • An executed copy of documentation regarding any alimony, child support or separate maintenance. A copy of divorce decree is required.
  • Approximate amount of vested interest in any retirement plan.
  • Make and year of all cars, boats, etc., plus market value of each.
  • Face amount and cash value of life insurance policies.
  • Documentation of income from any other source.
  • Value of all household and personal possessions – the estimated lump-sum dollar amount.
  • Be prepared for us to verify the source of funds to close the loan when you make application. Unsecured borrowed funds are not acceptable.
  • Be sure to advise the loan officer taking your application of recent raises, raises forthcoming, bonuses, company-furnished car, commissions, overtime, etc. This could be very important in obtaining loan approval.
3. Your Liabilities and Established Credit
  • All revolving and installment debts (auto loans, credit cards, etc.) balances and payments.
  • If a present home is pending sale, submit a copy of the sales contract. If already sold, submit a certified copy of settlement statements (HUD-1).
  • Any existing mortgage payments you have.
  • Documentation of all required payments for child support or alimony, other maintenance support or equitable distribution obligations. A copy of divorce decree will be required.
  • Homeowner’s Association dues, if applicable.
  • Credit references, if necessary, with names, addresses, account numbers, etc.

Worksheets/Checklists

Qualification Worksheet
download fillable PDF

Equity Line Worksheet
download fillable PDF

Application Checklist
download fillable PDF

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