I hope everyone had a wonderful Labor Day weekend and enjoyed the great weather.
In light of all that’s gone on in the mortgage industry in the past year, I wanted to make sure everyone knew what information/documentation is needed when you meet with a mortgage lender to get pre-approved for a loan. Before meeting with your loan officer, have ready to give him/her:
*Full name and Social Security # (for all borrowers)
*Residency – Address for last 2 years and monthly mortgage or rent payment
*Employment history for the last 2 years, name and address of employer, title/position
*Most recent 30 day pay stubs
*If Salaried Employee or commission income or retired (must have 2 year history for commission income): Most recent 2 years federal tax returns, including all schedules as well as W2′s and/or 1099′s
*If Self Employed (must have 2 year history): Most recent 2 years federal tax returns, personal and business, including all schedules and attachments
*Most recent statement (all pages) for ALL asset accounts including any infromation on other funds being used for closing (ie, sale of current home, gift, etc.)
When you make an offer on a home and have a preapproval letter from a reputable lender, you are in a much stronger postion for negotiating because you’re proving your worthiness as a buyer up front and sellers know you are serious. If you have any questions or comments, please let us know. We’re here for all your real estate needs.
Have a great week.
Melanie Cameron, Broker 910.233.2840
Susan Harkins, Buyer Specialist, 910.431.2362
Michelle Roberts, Buyer Specialist, 910-431-5686
Alexa Winstead, Marketing/Closing Coordinator 910.202.2547
Diligently working to exceed real estate expectations in Wilmington, NC and surrounding areas including Ogden, Porters Neck, Wrightsville Beach, Carolina Beach, Castle Hayne, Leland, Burgaw and Hampstead.
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