Be Prepared For Your Loan Application

As mortgage rates are at historical lows, people are taking full advantage of the opportunity to refinance or purchase a home.

Because of this, the amount of time between the application and the closing is getting longer. One way to help make sure the process runs smoothly is to make sure that you have the following documents ready to go:

1. The most recent month’s worth of paystubs. The stub should include your social security number and your year to date income.
2. Proof of income received, if any, from a secondary source such as alimony or VA benefits.
3. The previous two years W-2s and federal tax returns with all schedules and attachments.
4. The most recent retirement or investment account statements, including any real estate owned.
5. Explanation of any recent credit inquiries and statements if any new credit was received from those inquiries.

Depending on underwriting requirements, all of these items may not be necessary but having them available will help save time during the process.

For your free mortgage consultation and to determine what items you will need for your loan approval, email me or call 678.648.5626.