Margaryta Booth Principal Broker

King Neptune Statue on the Boardwalk in Virginia Beach

What to Bring to Loan Pre-Qualification

What to bring to Loan Pre-Qualification Consultation

 

When you go to the loan officer you need to bring a lot of information.  You can actually pre-qualify with very little information; however, if you bring your full information you will get a very good pre-qualification status and will not have to deal with the upset of going through the contracting process only to have your loan disapproved.   Yes, this is true just because you a letter pre-qualifying you for a certain amount it does not guarantee you will actually get the loan for that amount.  Follow the checklist below and you should have a very solid pre-qualification letter and a good chance of getting that amount from the lender.

 Your Loan application Check List

Use the following check list to be sure that you take everything you may need to help make your loan application an easy, hassle-free experience:

  • Purchase Contract (for your new home)
  • Sales Contract (if you are selling you present home)
  • All original paystubs for the last 30 days (showing year-to-date earnings, name, Social Security Number)
  • Original Copies of your most recent 2 years W-2s
  • If you have a rental property, provide your most recent 2 years tax returns with all schedules and current rental agreement
  • If you are self-employed or receive 1099, provide your most recent 2 years tax returns with all schedules and a year-to-date profit and loss statement and balance sheet
  • If you own 25% or more of your corporation, provide the most recent 2 years corporate tax returns with all schedules and a year-to-date profit and loss statement and balance sheet
  • If you are commissioned, provide your most recent 2 years tax returns with all schedules and a year-to-date employee business expenses
  • Information on residence history (for the past 2 years)
  • Information on all outstanding loans and credit cards
  • Original of the last 3 months’ bank statements for all accounts
  • Information on the Real Estate you currently own
  • Information about your personal property you own
  • Check for appraisal and credit report fees
  • Certified copy of the closing statement (if you have already sold your home)
  • If divorce, all papers including marital termination agreement & final decree (signed by court)
  • Copy of the driver’s license and social security card (FHA loans only)
  • Original certificate of eligibility and DD214 (VA loans only)