Here's a good newsletter from our preferred Mortgage Advisor, Kevin Nelson, from Discover NCW Mortgage:
If you're thinking of financing a home, here is some help to make things easier. You can simplify and expedite the loan application process by having the following documents available:
Income
* Last two years' W-2 forms
* Last two pay stubs (covering one month's wages)
* Last two years' signed Form 1040s
* All appropriate schedules if more than 25% of your income is from self-employment, overtime, or commissions, or if you are employed by a relative
* Current business income statement, if self-employed
* Last two years' business tax returns if you own 25% or more of a business
* Proof of Social Security, pension, or disability income
Assets
* Last two months' bank statements
* Copies of stocks and bonds or U.S. savings bonds
* Last quarter report for investment or trust account
* Current statement for 401(k) or IRA accounts
* Real estate owned: address, current value, loan balance, monthly payment, and rental income, if any
* Listing agreement and sales contract if selling your current home
* Value of personal property and household goods
Liabilities
* Complete list of current debts and minimum monthly payments, including name of creditors and account numbers where applicable.
* Last 12 months' cancelled checks (front and back) for rent or land contracts.
Property Information
* Copy of your sales agreement
* Copy of MLS listing card
Other data may be necessary depending on your circumstances. Getting a head start on paperwork is always a good idea. Loan pre-approval makes your offer stronger and cuts down on possible delays.
Just let me know when you are ready to get started.
Sincerely,
Kevin Nelson
Discover NCW Mortgage
(509) 663-9521
E-mail: kevin@kevinnelson.biz
Web site: http://www.kevinnelson.biz
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