Preparing to Meet with a Loan Officer

Posted on | April 27, 2016

dreamstime_m_7136579

 

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:

Identity:

  • 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

Other Circumstances

  • 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.

AmeriTitleBlogThumbnail

 

Oregon |  Idaho  |  Washington

Recognized as a trusted resource for settlement services in the Pacific Northwest, AmeriTitle’s convenient locations in Oregon, Idaho, and Washington offer superior service and local expertise in all aspects of escrow, title insurance, and mapping services.

www.amerititle.com  |  Connect with an office near you

 

This content is provided for informational purposes only and is not to be construed as legal, financial, or real estate advice. 

Share this article:

Leave a Reply

Your email address will not be published. Required fields are marked *