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10 Things a Lender Needs From You |
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Tuesday, 03 April 2007 |
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The more information you can provide your lender, the more likely you are to get a better loan at a better rate. Take a look at this quick rundown of the type of things just about all lenders are going to have to look at to provide you with a first class loan.
1. W-2 forms or business tax return forms
if you're self-employed for the last two or three years for every
person signing the loan.
2. Copies of at least one pay stub for every person signing the loan.
3. Copies of two to four months of bank or credit union statements for both checking and savings accounts.
4. Copies of personal tax forms for the last two to three years.
5. Copies of brokerage account statements
for two to four months, as well as a list of any other major assets of
value, e.g., a boat, RV, or stocks or bonds not held in a brokerage
account.
6. Copies of your most recent 401(k) or other retirement account statement.
7. Documentation to verify additional income, such as child support or a pension.
8. Account numbers of all your credit cards and the amounts of any outstanding balances.
9. Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
10. Addresses where you have lived for the last five to seven years, with names of landlords if appropriate.
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