• Mortgage Applications: Information Needed

  • Have The Right Documentation Early When Applying For A Home Loan

    Mortgage ApplicationApplying for a Home Loan seems complicated to most, but having the right documentation available at the time of application will streamline this process immensely.

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    Here’s what you will need to get started:

    Basic information Needed To Run Credit Report

    • Full legal name and date of birth
    • Social Security Number
    • Current Address

    Do not have any creditors pull your credit report or acquire any new dept after you apply or you will need to re-qualify.

    Income Information

    • Two most recent pay stubs showing year-to-date information
    • W2’s for the past two years (2010 and 2011)
    • Tax returns for the last 2 years (Underwriters are looking for deductions on Schedule A or other sources of income on Schedules C or E)
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    Bank Account Information

    • Two consecutive checking/savings statements (all pages are required as underwriters are looking for large deposits that are not through payroll)
    • Two consecutive retirement statements (401K, IRA)

    Other Required Documentation

      • Copy of the Purchase Agreement
      • Copy of the earnest money deposit given to the Realtor
      • Copy of Seller and Lead Paint Disclosures
      • Copy of drivers license or passport
      • Copy of green card (if not U.S. citizen)

    Having all of this prepared and ready to go out of the gate can help the mortgage process a ton! Please email or fax in your documents.

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