Locate Your Relevant Documentation
Being prepared for your conversation with your mortgage consultant is crucial to getting the most out of your experience. Before contacting your mortgage consultant, gather the following documentation:
• 30 days of recent pay stubs
• 2 years of recent W-2s
• 2 months bank statements, checking and savings
• 401K/IRA statements
• Bankruptcy filing and discharge, if applicable
• Divorce decree/separation agreement, if applicable
You may need additional documentation, especially if you are a first-time homebuyer, self-employed, or a veteran applying for a VA loan. Your mortgage consultant will advise you specifically in those cases.
Some of these items you may not have readily available, so you may have to contact previous employers, banks and others to obtain this information. This may take additional time. Also, some banks charge for reprints of bank statements.
Just remember that you will need to keep track of any new pay stubs, bank statements and anything else your mortgage consultant asks for during the loan process, so don’t throw anything away – and stay away from the shredder!
If you would like a more detailed list of documentation that is specific to your situation, please contact me at bahale1@gmail.com or (513) 520-6044.
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