The
Mortgage
Process:
*
- Find a mortgage that fits your
needs.
- Decide how much house you can
afford.
- Check your credit.
- Pre-qualification and pre-approval.
- Gather the needed paperwork.
- Find a lender.
- Assess your potential home.
- Prepare for closing.
- Closing day!
- Servicing your mortgage.
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The
Necessary
Paperwork:
*
- Federal tax returns from the
previous two years.
- W-2 forms from the previous two
years.
- Recent paycheck stubs.
- Documents showing other sources
of income, which could include overtime, commissions and bonuses,
second jobs, interest and dividend income, Social Security payments,
VA and retirement benefits, alimony, and child support.
- A complete list of your creditors,
such as credit cards, student loans, car loans and child support
payments, along with minimum monthly payments and balances.
- Investment records including
mutual fund statements, real estate and automobile titles, stock
certificates and records of any other investments or assets.
- Canceled checks for your rent
or mortgage payments.
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*
Based on an excerpt from Bankrate.coms Mortgage Guide
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