Loan Approval : borrowers need to get these documents ready before they get serious about buying a new house.
1. Copies of W2’s for the last two years If Self-employed Proved year to Date P and L statement and a complete set of returns for your business (K-1, 1120’s 1065’s, etc)
2. Copies of your 1040s (federal tax returns) all pages and schedules.
3. Copies of paycheck stubs for the last 30 days (most current)
4. Copies of all checking and savings account statements for the last two months (all pages)
5. Copies of all retirement accounts (401K, CDs, Annuities, etc.)
6. Copies of Driver’s license and Social security card. Take a picture of them with your cell phone and email or text to me.
7. Signed Borrowers Authorization form.
Please have these additional items ready to submit after you find a house and prep the offer.
1. Signed purchase contract along with any counter offers or riders
2. Verification of the deposit(copy of check) which was placed on the home.
3. Names, addresses, email addresses, and phone numbers of all Realtors, escrow, title, and insurance agents involved with the property.
4. Source of down payment. Large deposits or gifts need to be “seasoned”
Use this free loan approval calculator https://www.bankrate.com/home-equity/loan-pre-qualification-calculator/
p.s. come back to my website https://kevinakent.com/ when you know what we have to work with!