Worksheets / Checklists
Monthly income
  • Borrower's gross monthly income $________
  • Co-borrower's gross monthly income $________
  • Other income $________
  • Total income $________

Monthly housing expense

  • Principal & interest + taxes & insurance $________
  • Private mortgage insurance $________
  • Homeowner's association dues, or $________
  • Other housing payments $________

Total monthly housing payment (a)$________

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

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

*Total housing expense divided by income = ___________%
(should not exceed 28%).

**Total obligations divided by income = ___________%
(should not exceed 36%).



How much equity do you have available (for a Piedmont PRIME Equity Line) loan?
  1. Write the current tax value of your home. $________
  2. Multiply the current tax value times 80%. $________
  3. This figure is used to calculate 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. $________


Use this checklist to make sure you have all the important information you'll need for your loan application.
  1. Your Personal Data
    • 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.
    • Copy of your most recent pay stub.
    • Self-employed tax returns for the last two years.
    • 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.
    • Lease agreement if rental income is received, or provide tax returns for two years.
    • An executed copy of documentation regarding any alimony, child support or separate maintenance. A copy of any 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 statement (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.
    • Credit references, if necessary, with names, addresses, account numbers, etc.
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