Properly preparing to shop for a mortgage loan is very important.

Organized information you will be providing to potential lenders means you'll be prepared when it's time to apply for your loan.

Typical Documentation Includes

• W-2 tax forms and tax returns for the last 2 years.
• Names, addresses, and phone numbers of your employers for the past 2 years.
• Bank account numbers, address of your branch and current balances.
• Statement of current assets and liabilities.
  • Assets Include:
    • Real estate owned
    • IRA accounts
    • Stocks, bonds, certificate of deposits
    • Personal property
  • Liabilities Include:
    • Current mortgage - amount owed and present monthly payments
    • All loan creditors' names, addresses, and account numbers as well as the monthly payments made and account balances.

If any of these apply, be ready to supply the necessary documentation:

• Copy of your Purchase Agreement and receipt for deposit.
• If self-employed, your profit and loss statement for the last two years.
• If you own investment rental properties, your federal tax returns and any information regarding the mortgages on those properties.

Request Mortgage Prequalification Package