Checklist for Fast Approvals 

This is my "wishlist" for every borrower.  If every borrower already had the below information gathered before they gave me a call, it would be a dream come true! 

1.                  Social Security Number and copy of Driver's License for all borrowers on loan.

2.                  Borrower’s home, business and personal phone numbers.

3.                  Borrower’s complete address(es) for past 24 months, with any applicable landlord information.

4.                  Name and account number of current mortgage holder, monthly payment, estimated remaining principal balance and type of mortgage (Conventional, FHA or VA), if applicable.

5.                  Employer’s name, address and phone number for past 24 months, salary information, pay stubs for one full month and most current year’s W-2s.

a.       Self-employed persons will need a Y-T-D Profit and Loss statement and last two years’ Federal Income Tax Returns, including all schedules, W-2s, etc.

b.      If commissioned, last two years’ Federal Income Tax Returns, including all schedules, 1099s, W-2s, etc.

c.       If utilizing child support/alimony income, or if obligated to pay child support/alimony, bring recorded divorce decree, support and/or property settlement orders, proof of payment and/or receipt of payment, i.e., cancelled checks or court payment record.

d.      If applicable, current social security, disability or retirement award letters and evidence that such will be sustained for minimum of three years.

6.                  Name and address of banks, credit unions and investment manager, including all checking, savings and investment account numbers, estimated balances AND most recent statements on accounts.

7.                  Name of creditors (credit cards, student loans, car payments), account numbers, monthly payments and estimated remaining balances.

8.                  Bankruptcy:  explanation of bankruptcy, copy of Discharge and Schedule A.

9.                  If down payment is from sale of present home:

a.       Sale Pending:  Copy of Contract

b.      Sale Closed:  Copy of Settlement Statement (HUD1).

10.              Personal Check for Appraisal, Credit Report, and Flood Certification Fees.

11.              Copy of Driver’s License or other valid picture ID.

12.              Copy of Purchase Contract executed by all parties.

13.              Copy of Deed, prior Settlement Statement, Title Insurance Policy and Homeowners Insurance Policy or agent information, if refinancing.

Links to my favorite Mortgage & Wealth Calculators:

http://www.dinkytown.com

http://www.mortgage-calc.com/

http://cgi.money.cnn.com/tools/