The lending process has changed a great deal in the last few years, so it's important to stay up to date on the current requirements, and have a solid picture of your financial standing.
When applying for a mortgage, you will need a few pieces of information when you meet with your banker or lender:
- Name and Social Security number of each applicant
- Current Address
- Phone number where you can be reached
- Monthly salary and sources of income, including child support and alimony
- Information on length of employment, and employer address and phone number
- Two most recent stubs from your employer
- W-2's for the last two years
- Last two months bank statements
- Long-term debt information, such as credit cards, child support, auto loans, installment debt, ect.
Run your credit report at least once a year so there are no surprises. Be cautioned, which site you use as not all services are free as they advertise. Use the following link: