The key documents and information needed for written loan application:
Most recent pay stubs to cover 30 consecutive days.
W2s and 1099s from the past three years.
Tax returns from the past three years.
Bank accounts, CD account, Money Market, Retirement “paper” statements for 2 months (ALL PAGES of each statement are required). Provide evidence of the source of funds for any Non-Payroll deposits or funds transfers.
Name of current landlord and contact information for past two years (if renting).
Employer names and addresses for the past two years
Key questions to answer during the pre-qualification:
Do you have any un-reimbursed business expenses (expenses you write off on your tax returns)?
Do you or your spouse have any side businesses where you show a negative income (loss)?
How are you paid (hourly, weekly, salary, commission, over-time) (1009 or W2)?
All derogatory credit and credit inquiries will need to be explained.
Do you have any child support or alimony obligations?
It's a great time to buy a house! Call me and I will help you get from pre-qualified to the closing table.
