What fields are typically included in a loan application?


Quick Answer

Loan applications generally include fields for the applicant's contact, identity, employment and financial information, according to a typical Bank of America car loan application. The information requested on a loan application depends on the loan type and the creditor's specific requirements for extensions of credit.

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What fields are typically included in a loan application?
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Full Answer

The types of loans that usually require individual borrowers to fill out a loan application include personal, car, home, student and business loans. Loan applications typically start by providing fields for contact information for the primary applicant, including name, address, phone number and email address, as shown on a Bank of America car loan application and PNC student loan application. The next section of a loan application typically requests identity information, such as the applicant's Social Security number, citizenship status, date of birth and driver's license number. An employment section usually provides form fields to indicate employment status and yearly income, and many loan applications include a financial section that requests information on the applicant's bank accounts and other assets.

Depending on the type of loan, the application may include additional fields. For example, a mortgage application may include fields for the property address, property value estimation and desired size of the mortgage, according to HousingWire. A student loan application may have fields for expected graduation date and school name, while a small-business loan application may have fields for the owner to identify other creditors of the business.

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