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Thursday, June 5, 2014

What must a buyer provide in order to qualify for a home loan?

Blogging From The Desk of Alicia Lagarde-Craig

Have you ever wondered if you could qualify for a home loan? Here is a list of items that you will need when trying to get prequalified by a lender.

1. Driver's License & Social Security Card. If the address on your driver's license does not match the address you gave to the lender, please include a letter of explanation for the difference in the address.

2. Most recent 30 days of paystubs.

3. Most recent 60 days of bank statements with EVERY page, even if the page is blank. If you do not have the most recent bank statements, you can get a 60 day printout from your bank, but make sure to get your bank to sign, date and stamp ALL pages. If you have any deposits (other than payroll) that are over $500.00, you must address each deposit with a letter of explanation and provide a copy of the check.

4. 2013, 2012 and 2011 W2/1099 Forms

5. 2013, 2012 and 2011 Federal Tax Returns with all schedules

6. Bankruptcy Discharge Paperwork (If Applicable)

7. Divorce Decree and Child Support Court Documents (If Applicable)

8. Most recent Mortgage Statement for all properties owned (If Applicable)

9. Homeowner's Insurance Declarations page for all properties

10. Flood Insurance Decalrations page for all properties (If Required)

11. Most recent property Tax Bill for all properties owned

12. Copy of ALL documents from your SBA loan (If Applicable)

If you have any questions about anything real estate, do not hesitate to call me at 504.382.3724 or visit me on the web at www.myNOLAhomes.com

~Alicia Lagarde Craig, REALTOR LA# 77342