The information below is typical of what a lender needs for a pre approval for your home, condo or town-home loan. All items are necessary at the time of your “Face to Face” meeting. If you are unable to provide them at that time, please get them to the lender as soon as possible afterwards.
We are HUGE advocates of “Face to Face” meetings with your chosen real estate professionals. In fact, we want you to be able to size up your real estate agent and lender of preference in person.
o Two Years worth of Federal Tax returns “1040’s”, all pages. (corporate taxes if you file a separate return)
o Two Years worth of W-2 forms
o Most recent pay stubs for 30 days
o 2 months complete bank statements for all bank accounts, please include all pages.
o Copy of your current mortgage statements (1st and 2nd if you have one), Property tax bill, home owners insurance statements and HOA statement. (we need to determine all debts on the current property)
o Driver’s license or California ID
o Social Security card
Lenders will also need you to answer the following questions so they can complete the loan application:
• Employer for the last 2 years. What is the work address?
• How long you have been on your job?
• How long have you been in that line of work?
• What is your position?
• What is your current address?
• How long have you lived at your current residence? How much is the payment?
• Do you own or rent?
• Do you have any dependents and if so what are their ages?
• Please also let us know what all your contact numbers are Home, work, and cell.
Please let your lender know if you have any questions on the above information or anything about the loan process. If you are missing something, then please send what you can so they can determine how much you will qualify for as soon as possible.
Thanks for everything and we will look forward to getting the green light. Remember, there is a difference between what you can qualify for and what you can afford. Be true to your amounts. Ask for a good faith estimate (GFE), and a copy of your credit report, no matter what lender you use.
This tip will keep you safe.
As a buyer you don’t pay your realtor’s commission. Your closing costs consist of three things – click to review. My BEST