How To Work With A Lender
Don’t worry about your finances, choose the professionals who’ll take care of them.
You’re just starting your search to purchase a new house - this is an exciting time! Before you schedule your first home tour, getting prequalified for a mortgage is an important first step. You don’t have to think about it on your own - we’re here to help you.
Having years of experience on the market, we’ve learned how important a trustworthy mortgage lender is during your real estate journey. Put your faith in a leading lender awarded for the exquisite customer service and appreciated for the competitive offers. Choose the business that pair knowledge, individual approach, and integrity, taking care of the most satisfactory results for you.
Here we have laid out a basic checklist to begin the process of owning the home of your dreams. With the following in hand, you will be better prepared in finding the best mortgage lender that will work for you.
- Personal documents
You will need two forms of a government issued ID and your social security number. Also include divorce papers and proof of ownership of other property you own where applicable. - Review your credit report
You should be able to do this free of charge. Be sure to dispute any errors or provide an explanation for late payments or derogatory items. Then, keep your credit score healthy by avoiding any new credit inquiries, canceling any credit accounts, or lowering limits with any creditors as doing these things could lower your credit score. - Tax returns
Be prepared to provide the most recent Tax Returns from the last 3 years. - Proof of income
Gather W2s, paycheck stubs, 1099s, or a year-to-date profit and loss statement if you are self-employed. You’ll also need to show other income sources such as Social Security, child support (including proof of age for each child), or government assistance. - Proof of assets
Provide bank statements, mutual fund statements, account balances for retirement accounts, 401Ks, IRAs, and any money held in the stock market. - Debt summary
You’ll need to provide a summary of your debts, monthly payment amounts, child support payments and balances for credit cards, student loans, car loans as well as any other property loans. - Financial issues
You may need to provide a written explanation if you’ve had bankruptcy or other financial issues in the past. - Down payment and closing money ready
Have these funds ready in your bank account. If you received this money as a gift, you might need to provide a letter from the gifter explaining the gift is not a loan. - Renting
Compile proof for the past year with canceled checks or money orders to show rent was paid on time.
Once you have these items prepared, next step is to shop and compare for the right mortgage lender that will work for you. Please refer to steps 2 and 3 here for further assistance :
- Step 3 : Choose The Right Lender That Works For You
Applying for your first mortgage? Get in touch with us! We’d be happy to walk you through the process and help you find the mortgage lender you can trust will work for you.
