Mortgage Checklist

The following information is usually required during the loan process.

If you gather all the information prior to calling a lender you will save time and possible money.

This hold true if you are buying a short sale / foreclosure / REO or a New Home

All Sellers want to know you are fully qualified.

 

Identification:

•·              Your Social Security number

**             Photo ID

Assets:

•·              Bank statements for past two months

•·              Investment account statements for past two months

•·              Life insurance policy

•·              Retirement account statements for past two months

•·              Make/model of vehicles you own along with their resale value

Liabilities:

•·              Credit card account information, including balance and monthly payment

•·              Auto loan account information, including balance and monthly payment

•·              Personal loan account information, including balance and monthly payment

Incomes:

•·              Current pay stubs and W2, or if self employed, past two years of tax returns

If you currently own real estate:

•·              Mortgage account information, including balance and monthly payment

•·              Home equity account information, including balance and monthly payment (if applicable)

•·              Home insurance policy information

 
This post has been included in Georgia Information Gwinnett County, GA Information
Post is included in group: Investors
Post is included in group: The Lounge at Active Rain
Post is included in group: REO REALTORS
Post is included in group: Dedicated Bloggers

5 Comments on What you will need to get a Mortgage !

Good list - you may want to ad photo id under identification (Driver's License).  Patriot Act.

Most don't ask about car info -

 

06/30/2008 03:45 PM by Ken Land (Magellan Mortgage)


Nice info, thanks Eric. When it comes to liabilies, I always mention student loans since those can often be forgotten, and always ask about child support income/cost as well as alimony. Not always easy to talk about, but can make or break a loan.

06/30/2008 04:06 PM by January Financial


Go with Owner Financing Instead! 

06/30/2008 05:41 PM by Das Cefa (Poverello Properties)


Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Eric Reid  Lawrenceville,GA (Renaissance Realty Group)
Eric Reid Lawrenceville,GA
Lawrenceville, GA
More about me…
Renaissance Realty Group

Office Phone: (770) 277-6652
Email Me
Welcome to Renaissance Realty Group Blog hosted by Eric Reid. This Blog will provide you with valuable information, tips, and general insight into Real Estate and all things related to Real Estate.
Distinctive Properties


Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find GA real estate agents and Lawrenceville real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved