How to Streamline the Home Loan Process
Getting a home loan can be a frustrating and time consuming process. It is a daunting process and you may feel like you are at the mercy of the mortgage company. However, a little preparation, a few simple steps and the right home lender can make all the difference. To help make it easier, I prepared a list of things you will need for the process.
Employment and Income
Two years employment history including job titles, dates of employment, employers address and phone number
Letter of explanation of and employment changes in the past two years
Most recent 30 days of pay stubs
Last 2 years of W-2s
Last two years of tax returns including all W-2s, 1099, K1 and all schedules
Two years of residential information, including landlord if renting
Most recent mortgage statement if you own a home
Name and number of insurance agent
Banking and Finances
Two most recent months of statements for all checking, savings, and investment accounts, including blank pages.
Two most recent months of 401K/retirement statements
Copy of cleared earnest money check and bank statement showing the check clearing
All non payroll deposits will need to be verified, including transfer between accounts
Other Items that Might Be Required
Complete divorce decree
Alimony/Child Support income: proof of receipt
Bankruptcy discharge papers, including filings, discharge and list of creditors
Retirement or Social Security Income: award letter and proof of receipt
VA loan: DD214 and Certificate of Eligibility.
While obtaining a home loan is never fun, having the above items gathered and the right lender can make it a less stressful process.
If you are in the market to buy a home in The Woodlands, contact us and I can help you find the perfect home for your family and guide you through the process from loan application to closing day. My experience, education, and connections will streamline the process for you.