Be ready to fill out lots of forms and supply tons of notarized and legally sealed background documentation. To be prepared for this onslaught, you should have these documents ready:* Past 2 years tax returns with W-2s.
* Social security card.
* Past 3 months of Bank and credit statements.
* Current employer information and verification (employment contract or letter from your employer will probably suffice. You will need 3 years of professionally prepared tax statements if you are self-employed.)
* Most recent pay stub showing year-to-date earnings.
* A list of any investments, including: pension plans, 401ks etc.
If you plan to include the income you receive from support or alimony of any kind, be sure to take copies of court records and cancelled checks to show proof of receipt of these payments.
If you are shopping around for the best loan rates, be sure to consider in the different fees that are associated with getting the mortgage. Different lenders may include or not include some things or have different costs. Know each individual fee and compare them along with the total overall costs.
These fees may include escrow, loan processing, title insurance, flood reports, and more. Some financial institutes may have low interest rates, but the other fees may be much higher or even unnecessary. Be persistent about having all the cost and fees shown and explained to you up front.
Source thehousedesigners.com
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