Here is the information generally required to get pre-qualified for a mortgage.
It's important to state that any information you send to us is 100 percent, fully secure. And I never, ever share it with anyone except by permission -- that is, if you're giving us information you want us to use to get you the best loan, we use that information to tell mortgage bankers about you and convince them to loan you money. In turn, those mortgage bankers are bound by federal law to keep your information secure.
Please forgive the federal government for making the process of obtaining a mortgage loan more cumbersome than ever before – the mountain of paperwork required gets taller by the day! Here is a link to a very good article which explains WHY there is so much paperwork required to obtain a mortgage, and what it all means. Reading this could help you understand the process from the lenders perspective. http://www.forbes.com/sites/moneybuilder/2012/03/09/the-perfect-loan-file-2/
In addition to general information about you, your social security number, current address, phone number and family status, I will need a 2 year employment history including your position, local address and telephone number for your employer and all current assets. I will need written documentation to verify this and other important information for all borrowers. Here is a list of typical information required in order to become pre-qualified. Gathering these ahead of time can streamline the process.
Valid Photo ID Pay stubs covering the most recent 30 days 2 years W-2 statements 2 years Federal Tax Returns 2 months bank statement for any Checking Accounts, Savings Accounts and CD's Most recent statement for Retirement Accounts, Stocks, Bonds and Investment Accounts Social Security or Retirement Award Letters (if applicable)
If you own Real Estate: Current copy of all mortgage statements Current copy of property tax bill Current copy of homeowners insurance Dec page (showing effective dates and annual premiums Current copy of HOA statements if applicable (must show dues)
If you pay alimony or child support, or have divorced or separated within the last 7 years Let me know.....I may need additional information.
If you've sold your home but it has not closed: A copy of the sales contract Name and contact information for the listing Real Estate Agent AND title company
If you've sold your home, closed, and you will use the proceeds for your new down payment: A copy of the HUD-1 Uniform Settlement Statement
If you rent Name, address and phone number of landlords and addresses for the past 24 months
If a source of your down payment is a gift: Name, address and relationship of donor. A gift letter is required, I will write this for you and Gift funds must be verified in both the donor and recipient's accounts. Note: Not all loan programs allow gifts to be part of your down payment.
For VA Financing DD214 and Certificate of Eligibility
If you have had a bankruptcy in the past 7 years, I will need a complete copy of the filed bankruptcy paperwork showing the release dates, signed by the judge and stamped by the court.
***Once we receive all of your information, we will complete the 4 page loan application for you so that you don't have to waste your time filling it out! Once completed, we'll send it to you for review.
If you are ready to start the process or have any questions on the process, please visit our contact page or click this link here.
