All buyers must be prequalified when making offers on foreclosures and REO or short sale properties. This is an example of a questionnaire that you will be asked to fill out.
Prequalification Questions for Prospective Buyers - Blank
PRE-QUALIFICATION QUESTIONNAIRE HOUSING REQUIREMENTS How many bedrooms and baths will you require? ________________________ Approximate sq. footage required? ________________
How many garages will you require? _______________ How large of a yard you will require? ____________________________________
How close to schools do you want to be? _________________________________________
Price Range ____________________________
Any other special requirements of a house?________________________________________________________________________________
BORROWER
Name _________________________________ SS# _____________________ Address _______________________________________________ Home Phone _______________ Borrower's Employer _______________________________ Address ________________________________ Work Phone _______________ Borrower's Gross Mo. income ____________ ____ Salary ____ Hourly ____ Commission
Length . of Employment __________ Does borrower receive commissions, bonuses, dividends or any other income? ____________
How much? __________ Does borrower have secondary Job? ______________________ If so, how long employed? _____________
Mo. Income ____________________
CO-BORROWER
Name _________________________________ SS# _____________________ Address _______________________________________________ Home Phone _______________ Borrower's Employer _______________________________ Address _________________________________ Work Phone _______________ Borrower's Gross Mo. income ____________ ____ Salary ____ Hourly ____ Commission
Length of Employment __________ Does borrower receive commissions, bonuses, dividends or any other income? _____________
How much? __________ Does borrower have secondary job? ______________________ If so, how long employed? ______________
Mo. Income ____________________
CREDIT/DEBTS
_________________________________________________________________________________________________________________________
Have either the borrower or co-borrower had bankruptcy or a foreclosure? __________________________________________________ Do either borrower or co-borrower have any gaps in employment? _________________________________________________________ Do either borrower or co-borrower owe any alimony or child support? _______________________ How much? __________________ Are the borrower and co-borrower U.S. citizens? ___________________ If not, explain status ____________________________________
ASSETS AVAILABLE FOR HOME PURCHASE
How, much cash are you willing to invest for a down payment and closing costs? ____________________________________________
What will be the source of this money? ____________________________________________________________________________________
If necessary, do you have any relatives who can provide gift money or act as co-borrower? __________________________________ Do you have any other assets which could be converted to cash or borrowed against if necessary to get the house of your choice? Please list: _______________________________________________________________________________________________________
Are you to receive any income tax refunds? _____________________________________________________ How much? _____________
Do your employers match any money you save at work?_____________ If so, how much do they match? ______________________
FINANCING
How long do you believe you will live in the home you are seeking? _________________________________________________________
Are either of you a Veteran or a Reservist ?_____________ If yes, have you ever used your VA loan benefits? ____________________
If so, what year did you buy ? ________ How much was the loan amount? _________________ Was the VA loan paid in full? _____
What is the maximum monthly payment you feel you could make each month? _____________________________________________
What Is the maximum down payment you can make? ______________________________________________________________________
Does your employer pay any of the costs of purchasing a home? ___________________________________________________________
What type of financing do you prefer? ____________________________________________________________________________________
I/We grant permission to check my/our credit for mortgage loan purposes.
Borrower X____________________________ ______ Co-borrower X_________________________ ______
COPYRIGHT © JEFF ELIAS 2010 Page 243-A Qualifying Buyers Section
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