| Pre-Qualifying for a Loan If you are considering a home purchase, pre-qualifying for a
loan is a must. Pre-qualifying will give you an idea of how much you
can afford, and how much of a payment you will be comfortable with.
The pre-qualifying process is relatively painless. Remember, the loan
officer wants your business. That's how they get paid. They should make you as
comfortable as possible, but be prepared to be open and honest about your financial
situation and provide complete information. Follow the link below for
the Memphis area's best loan officers.
Click here for a list of GREAT loan officers.
Once you decide on a loan officer, this is the Information you will
need to get together for your loan application:
1. W-2's for the past 2 years
2. Most recent paycheck stubs covering the last 30 days
3. Residence addresses - past 2 years
4. Names and addresses of each employer - past 2 years
5. Last 2 months bank statements for all checking and savings
accounts
6. Names, addresses, account numbers and monthly payments on all open
loans
7. Addresses of other real estate owned
8. Loan information on all real estate owned
9. Money for credit report and appraisal
10. Landlord names and addresses - past 2 years
11. FHA loans: Photo ID and Social Security card
12. VA loans - VA certificate of eligibility and DD 214 (Discharge Papers) |
