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Notes:
***It is very important for buyers to
be at least pre-qualified and
preferably pre-approved by a bank or
mortgage company prior to making an offer on a house or
property. This makes any offer you
write much stronger, particularly an
offer that you want considered that is not a full price offer! This
can be done fairly quickly with the
use of computers by mortgage lenders and banks. You can even apply
on-line to many lenders. Ask the lender to give you a
written pre-qualification or
pre-approval letter.
*** You should check your
credit report to ensure that nothing
appears on the report that (1) Is NOT your debt, but may belong to
someone with a similar name (2) There are no inaccuracies in your
report.. eg. Loans that have been paid off but still appear as
debts (3) You have no collections that have not been paid. We
have addresses and telephone #’s of the Credit Agencies that you
will want to check.
Once you have received acceptance of your offer to purchase on a
home or property, you will want to shop
around for interest rates and closing costs. We keep a
vendor list that will help you begin that search for the best loan.
Or you may select a company with whom you are familiar or at which
you have a personal contact. Listed below is the basic information
that most loan companies require to make loan application:
Information
Needed to Make Application for Loan
 |
Social Security Numbers for all borrowers |
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Residence addresses for the past 2 years |
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Landlord address for last 2 year rentals and/or Mortgage Company
name and account # covering the past 2 years. |
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Name
and addresses for each employer for past 2 years
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W-2’s for the past 2 years and your CURRENT paystub
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Names, addresses, account #’s and balances on all
checking, savings and investment accounts, plus 3 months statements
on each.
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Names, addresses, account numbers, balances, and
monthly payments on all open loans
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For self-employed borrowers: 2 years Tax Returns,
plus all schedules
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Cash
for a credit report and an appraisal
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VA loans only: Certificate of Eligibility and
DD214
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DO YOU KNOW WHAT'S ON
YOUR CREDIT RECORD?
FIND OUT! |
