Stream Lining the Home Loan Process
Everyone knows that getting a Home Loan in The Woodlands, Tx or anywhere else is a very different process than just five years ago. It seems like the lenders are trying harder to disqualify you than qualify you for the loan. Most of us would rather have a root canal without pain meds than apply for a home loan.
However, a little preparation, a few simple steps and the right home lender can make all the difference.
Being prepared is you best defense against a hair-pulling experience, so I prepared a list of things you will need for the process.
Employment and Income
*Two years employment history including job titles, dates of employment, employers address and phone number
*Letter of explanation of and employment changes in the past two years
*Most recent 30 days of pay stubs
*Last 2 years of W-2s
* Last two years of tax returns including all W-2s, 1099, K1 and all schedules
Residential Information
*Two years of residential information, including landlord if renting
*Most recent mortgage statement if you own a home
*Name and number of insurance agent
Banking and Finances
*Two most recent months of statements for all checking, savings, and investment accounts, including blank pages.
* Two most recent months of 401K/retirement statements
*Copy of cleared earnest money check and bank statement showing the check clearing
*All non payroll deposits will need to be verified, including transfer between accounts
Other Items that Might Be Required
*Complete divorce decree
*Alimony/Child Support income: proof of receipt
*Bankruptcy discharge papers, including filings, discharge and list of creditors
*Retirement or Social Security Income: award letter and proof of receipt
*VA loan: DD214 and Certificate of Eligibility.
While obtaining a home loan is never fun, having the above items gathered and the right lender can make it a less stressful process.
If you are in the market to buy a home in The Woodlands, Tx, call me I can help you find the perfect home for your family and guide you through the process from loan application to closing day. My experience, education, and connections will streamline the process for you. For more information, visit my web site www.SoldOnMary.com
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