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The essential first step in the home buying process
is a "pre-qualification" interview with a
knowledgeable and experienced mortgage broker. This
important first step will help you set the perimeters
of purchase price and monthly costs. You can then make
your home buying decision from a position of financial
strength, with confidence that you have the ability
to complete the purchase.
To expedite the process, you will want to collect as
many of the following documents as possible to bring
to your "pre-qualification" interview.
- YOUR IDENTITY
- Copy
of Driver's License or State ID
- Copy
of Social Security Card
- Copy of Resident Alien Card
- YOUR
INCOME
- 2
current pay stubs (most recent)
- 2
years W-2s (most recent)
- 2
years tax returns (most recent)
- If self-employed - current
Profit & Loss Statement
- YOUR
ASSETS
- Bank
accounts: Name of bank, address, account number,
balance
- Copies
of 3 months bank statements (most recent)
- Stock
& bonds, IRAs, Mutual funds (copies of most
recent statements)
- If down payment is a gift
- gift letter from donor
- YOUR
CURRENT DEBTS
- Creditor's
names, addresses, account numbers, balances due
- Name,
address, account number, and phone of landlord or
current mortgage
- 12
months canceled checks for rent or current mortgage
- If negative items on credit
report, letter of explanation
- OTHER
REAL ESTATE OWNED
- Present
value
- Balance
due on mortgage: Name, address, account number of
mortgage holder
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