The Loan Process - Preparation

Depends on a program you are looking for, listed bellow are standard documents you might need to process your mortgage application:

• Most recent pay-stubs covering 30 days
• Last 2 years W2s or tax returns for self employed, including all schedules
• Last 2 years of residence and employment history (including phone #s and contact information)
• Last 2 months bank statements including all pages
• 401K and/or other investment accounts / assets information

Credit Rating

Your credit history will determine the terms of your loan. It is a good practice to check your credit report occasionally and review it to make sure that there aren't any discrepancies which could lower your credit score.

Most lenders will use middle out of 3 credit scores in prequalification process. Higher the score, better the terms.

You can do this by contacting a credit reporting agency such as Equifax, Experian or Trans Union.

Work with your broker

It is important that you keep in touch with your broker and that you provide him/her with requested information in expeditious way.

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