Applying for a Mortgage

Thank you for considering First Citizens as you proceed with the mortgage financing of your new home. We're happy to guide you through the process.

To find the loan that's right for you, we'll need to learn more about you and your financial goals. The first step is to gather your financial records.

Applying for a mortgage can't get any easier than this.

Be prepared to provide the following information to your mortgage banker during your first meeting. If you're submitting a joint application, bring the same information for all borrowers.

Personal Information:

• Complete name, social security number and date of birth.

• Present address and telephone number.

• Number of years at your current address.

• Name and address of your present mortgage company or landlord.

• Amount of monthly mortgage or rent payment. (For mortgages, see Financial Obligations for other required information.)

Employment:

• Name, address and telephone of employer(s).

• Position or title and length of employment.

• Salary, commission, bonuses and/or overtime.

If Self-employed:

• Year-to-date profit and loss statement and balance sheet.

• Two years of signed Federal Income Tax Returns.

Other Income and Assets:

• Source and amount of monthly income other than from your employer, such as retirement or rental income.

• Name, address and account numbers for banks where you have checking or savings accounts.

• Name, address and account numbers for brokers where you have accounts.

• Estimated value of stocks and bonds.

• Face and cash value of life insurance policies.

• Vehicles: year, make, model and estimated value.

• Estimated value of other real estate and personal property.

• To have alimony or child support counted towards your income, you must provide proof of the payment amount and that the payment is being consistently made. This includes supplying divorce or separation documents, court records, canceled checks, etc. (You do not have to include information about income from alimony, child support or separate maintenance payments unless you want to consider this as income for your application.)

Financial Obligations:

• Name, address, account number, monthly payment, and present balance for installment loans and revolving credit accounts including credit cards. This includes:

• Vehicle purchase and lease payments

• Student loans, lines of credit, etc.

• Department store and other credit cards.

• Alimony or child support payments, including divorce or separation documents that show payment amount and duration.

• Mortgage history:

• Present lender's name, address, account number, monthly payment, original amount, current balance and loan type. (FHA/VA or conventional)

• Previous lender's name, address, account number, monthly payment, original loan amount, pay-off date and loan type. (FHA/VA or conventional)

• If you are selling your current home, provide copies of the listing or sales contract.

Conventional Loans:

• Previous years' W-2 forms.

• Pay stubs from the last 30 days.

• Most recent two months' bank statements (checking and/or savings).

• Original or certified true copies (both sides) of canceled checks from the last 12 months of mortgage or rent payments. For borrowers who are self-employed and whose loan-to-value ratio exceeds 95%, alternative documentation may be required.

Other things First Citizens Bank may require:

• Name and address of the attorney handling your home purchase.

• Application deposit fee check for credit report, appraisal and flood certification.

• Copy of your contract, if you are purchasing a home.

• Description and location of the property, which will secure repayment of the loan.

If you are building a new home, you'll need:

• A copy of the deed for your property.

• The 911 street address.

• A copy of your HUD-1 settlement statement for land purchase, if applicable.

• A copy of the turnkey contract to build.

• A copy of your contractor's license.

• Copies of your drawings and plans for your new home.