Are you looking to purchase a home? Are you a homeowner looking to refinance and take advantage of today's low interest rates? It's important to be prepared when shopping for a mortgage. Gone are the days when you can call a lender with an estimate of your personal financial information and receive a
prequalification. In order to be truly confident that your application will be approved you should be ready to give your lender the following information - and be exact on the numbers - so that your loan can be
preapproved.
- Name, date of birth and social security number of all borrowers
- Address for the past two years for all borrowers
- Employer - with address, contact number and monthly salary - for the past two years for all borrowers
- List of all checking, savings, investment and retirement accounts - with institution name, account numbers and balance
- List of all properties (if any) currently owned - with estimated value, mortgage balance owed, monthly mortgage payment and insurance/tax escrows
With this information, your lender can submit your application for preapproval and you can be confident that once you locate your dream home you will be ready to proceed.
For questions, contact me @
mortgageray@hotmail.com.
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