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10 Things a Lender Needs From You


8 Steps to Getting Your Finances in Order  |  Budget Basics Work Sheet  |  8 Ways to Improve Your Credit 5 Factors That Decide Your Credit Score  |  How Big a Mortgage Can I Afford? 10 Questions to Ask Your Lender  |  10 Things a Lender Needs From You  |  6 Creative Ways to Afford a Home Choices That Will Affect Your Loan  |  5 Property Tax Questions You Need to Ask

  1. W-2 forms or business tax return forms if you’re self-employed for the last two or three years for every person signing the loan.

  2. Copies of one or more months of pay stubs from every person signing the loan.

  3. Copies of two to four months of bank or credit union statements for both checking and savings accounts.

  4. Copies of personal tax forms for the last two to three years.

  5. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account.

  6. Copies of your most recent 401(k) or other retirement account statement.

  7. Documentation to verify additional income, such as child support, pension, etc.

  8. Account numbers of all your credit cards and the amounts of any outstanding balances.

  9. Lender, loan number, and amount owed on other installment loans—student loans, car loans, etc.

  10. Addresses where you lived for the last five to seven years, with names of landlords, if appropriate.



8 Steps to Getting Your Finances in Order  |  Budget Basics Work Sheet  |  8 Ways to Improve Your Credit 5 Factors That Decide Your Credit Score  |  How Big a Mortgage Can I Afford? 10 Questions to Ask Your Lender  |  10 Things a Lender Needs From You  |  6 Creative Ways to Afford a Home Choices That Will Affect Your Loan  |  5 Property Tax Questions You Need to Ask
Content from REALTOR® Magazine Online with permission of the
NATIONAL ASSOCIATION OF REALTORS® Copyright 2005.
All rights reserved. www.REALTOR.org/realtormag
   
 
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