- Mortgage Tools & Resources
- Mortgage Types
- Annual Percentage Yield – APR
- Real Estate Settlement Protection Act (RESPA)
- Escrow Account Basics
- Mortgage Process
- Terms & Definitions
Be sure to respond promptly to requests for information while processing is taking place.
Be prepared to provide the following typical items:
- The final purchase contract for the house (if applicable).
- Pay stubs for each applicant, showing earnings for the last 30 days and year-to-date earnings. (These must be computer-generated or typed originals that identify the employer and the employee’s name.)
- Last year’s W2 and 1099 for each applicant. If you’re self-employed, the mortgage company may require your personal and business tax returns for the previous two years and your company’s year-to-date Profit and Loss statement.
- Account statements for the past two months.
- Information about debts, including loan and credit card account numbers and the names of your creditors.
- Verbal or written authorization to pull credit.
- An gift letter if you are receiving a monetary gift from a relative.