BUYERS: Top Ten List of Documents Needed To Apply for Mortgage Loan
Applying for a mortgage loan is stressful enough wondering what my credit score is, with whom do I make a lender appointment with (Tami Zumbach of Centennial Mortgage), and when am I going to find out what I qualify for, and what is my interest rate?
Applying for a loan is very "document intensive." if I might say so, but KNOWING what to bring to a lender appointment, makes it easy to start your little checklist. Write these ten items down or print out this blog because then you'll be stress free! Well, at least with the document scavenger hunt you will be! Here's what to bring:
Pay stubs for last thirty days for each applicant. Bring stubs for last two months if you have them.
Last two years of W-2's (2006 - coming to a mailbox near you, and 2005)
If self-employed: two years full tax returns with schedules, and if stated, business license to show two year history.
Award letter for: disability, social security, pension income (if applicable)
Current mortgage statement (if two mortgages, bring both statements)
Bankruptcy papers with full schedules (if applicable)
Divorce papers (if applicable)
Reserves - Premium only - 3 months PITI needed (401K statement, Cash value on life insurance, 2 months of current bank statements)
Inquires letter (last 90 days)
Homeowner's Declaration Page or Agent's name, address, and phone number (you must call and get declaration page)
Some of these items only apply for special circumstances. If you want more information on what to bring to a lender appointment, contact one of my preferred lenders Tami Zumbach from Centennial Mortgage. Tami is a senior loan officer known around town as someone who gets the job done. She can be reached at 319-560-1283 (Cell), 319-294-2171 (Office), and 319-294-2176 (Fax).