Qualifying Tips

Avoid Heartbreak! Here are some Qualifying Tips
The most important point is to approach a lender for a pre qualification appointment and credit analysis before you have an actual sales contract in hand. You don t want to find a house you really love and then discover you can't finance it. That is a real heartbreaker. Get your papers organized NOW! Shipshape files make the mortgage application and any necessary credit work run smoothly. Some of the items you ll be asked to bring to the loan application include:

1.

W-2 forms for the previous two years.
2.

Paycheck stubs covering the last 30 day period.
3.

Documentation of any other income you would like to be considered for qualifying.
4.

Bank statements covering the last 60 day period.
5.

Most recent quarterly bank, 401K, IRA, or Securities statement.
6.

Landlord names, addresses and phone numbers covering the last 12 months.
7.

Names, account #s, balances and payments for all debts.
8.

Names & addresses for all employers and/or transcripts for the last two years.


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