If you want to purchase a home and plan to get a mortgage loan, your first step is to meet with a loan officer. A good loan officer or mortgage broker will work with you to help you determine how much home you can afford. To get the most out of this meeting, it is a good idea to come prepared.
Information to gather before meeting with a loan officer:
- Identification such as a valid driver’s license or other government issued photo ID
- Your full legal name and date of birth
- Current and former address information for the last two years
- Social Security number
Income / Tax Verification:
- Most recent bank statements (include bank, retirement, investment, and other assets)
- Income amounts and sources
- Employer information for the last 2 years
- Pay stubs for the last 30 days
- W-2 forms for the last 2 years
- Full federal tax returns for the last 2 years
- Source of funds documentation for any large deposits
If Self Employed
- Business and personal tax returns for the last 2 to 3 years
- Year-to-date profit and loss statement and balance sheet
- List of all business debts
- Divorce decree (if applicable)
- Bankruptcy discharge documentation
- Unresolved credit dispute information
Requirements from lender to lender can vary. It is a good idea to visit with them about what information they will require before your meeting.
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This content is provided for informational purposes only and is not to be construed as legal, financial, or real estate advice.