Be Prepared When Applying For A Mortgage!

Applying for a mortgage can be a daunting and intimidating task!  But if you are prepared, you can save yourself time, energy and frustration!  Here are the things you will be asked to present:

1.  Universal Residential Loan Application (completed and signed)

2.  Copy of Driver's License

3.  Two most recent pay stubs (1 complete  month)

4.  2015 Social Security Award Letter

5.  The past two years Personl Federal Tax Returns with:

     a.  ALL PAGES (even if the last page prints out blank, if it is 1 of 5 then all 5 pages MUST be          

          included)

     b.  ALL schedules

     c.  ALL W-2's

     d.  ALL 1099's

     e.  Social Security 1099-S

6.  IF SELF EMPLOYED:

     a.  The past two years Corporate Federal  Tax Returns with:

           1.  ALL schedules

           2.  ALL K-1's

           3.  Business Debt Schedule-Include Bank Name, Loan Amount, Rate,  Term, and Payment

7.  Two most recent bank statements (INCLUDE ALL PAGES)

8.  Two most recent Investment Statements (INCLUDE ALL PAGES)

9.  Two most recent Retirement Statements (INCLUDE ALL PAGES)

10.  SUBJECT HOME:

     a.  Purchase Agreement (fully executed)

     b.  Copy of Home Owners Insurance Policy (including premium)

     c.  Copy of Property Tax Information (summer and winter tax bills)

11.  EXISTING HOME

     a.  Copy of Mortgage Statement

     b.  Copy of Home Equity Statement

     c.  Copy of Home Owners Insurance Policy (including premium)

     d.  Copy of Property Tax Information (summer and winter tax bills)

12.  RECENTLY SOLD HOME:

     a.  Settlement Statement

     b.  Copy of Settlememt Check

     c.  Copy of Bank Statement showing deposit

13.  IF DOWN PAYMENT IS GIFTED:

     a.  Gift Letter

     b.  Bank Statement from Giver showing gift money withdraw

14.  CONDOMINIUMS:

     a. Condo Questionaire completed and signed

     b.  Master Deed

     c.  By Laws

     d.  Operating Budget

     e.  Blanket Insurance Policy

15.  Trust documents

16.  Bankruptsy documents

17.  Divorce Decree

 

Trish Hartwick

Trish Hartwick

Petoskey Harbor Springs Real Estate | Waterfront Homes For Sale | TrishHartwick.com | Search for Homes
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