• Home
  • Buying
    • The Process
    • Mortgages
    • Buyer Consult
    • Search
  • Selling
    • Selling with Laura
    • Marketing Plan
    • Staging and Photography
    • What’s Your Home Worth?
    • Sellers Consult
  • Current Listings
  • Meet Laura
  • Vendor Guide
  • Let’s Talk

Call 703.283.6120 to discuss your real estate needs

Laura@GuidingYourMove.com
Laura Schwartz, Realtor Laura Schwartz, Realtor
  • Home
  • Buying
    • The Process
    • Mortgages
    • Buyer Consult
    • Search
  • Selling
    • Selling with Laura
    • Marketing Plan
    • Staging and Photography
    • What’s Your Home Worth?
    • Sellers Consult
  • Current Listings
  • Meet Laura
  • Vendor Guide
  • Let’s Talk

Mortgages

It’s important to get your financing in order prior to looking at homes. You’ll have a better handle on the costs and expenses associated with buying a home, both upfront and over the life of your loan. In this market, we cannot submit an offer on a home until you have been pre-approved by a lender.

Here is the list of documents a lender will need to begin your pre-approval:

  • Most recent 2 years W-2s for each applicant.
  • Most recent 2 consecutive official pay stubs with year to date income, name of company, and your name on them for each applicant.
  • Most recent monthly statements for ALL checking, savings, retirement accounts. Please include all pages to each statement. Please make sure your name and account number is on them, as well as the bank logo. If using an investment account for funds for down payment, please include that statement as well.
  • Most recent 2 years of tax returns with ALL schedules. You should have pages 1 and 2 of 1040s, Schedule A and/or Schedule C or E.
  • A copy of your recent mortgage statement for any property you currently own (if appl).
  • A copy of applicant(s) driver’s license(s).

10 Commandments When Applying for a Mortgage

  1. Thou shalt not change jobs, become self-employed or quit your job.
  2. Thou shalt not buy a car, truck or van (or you may be living in it)!
  3. Thou shalt not use credit cards excessively or let your accounts fall behind.
  4. Thou shalt not spend money you have set aside for closing.
  5. Thou shalt not omit debts or liabilities from your loan application.
  6. Thou shalt not buy furniture on credit.
  7. Thou shalt not originate any inquiries into your credit.
  8. Thou shalt not make large deposits without first checking with your loan officer.
  9. Thou shalt not change bank accounts.
  10. Thou shalt not co-sign a loan for anyone.

Recommended Lenders

Brian Picker    

Southern Trust Mortgage
443.398.0266
bpicker@southerntrust.com
www.BrianPicker.com

Jon Okun    

Prosperity Mortgage
443.610.8371
Jonathan.Okun@phmloans.com
jonathanokun.phmloans.com

© 2019 · Laura Schwartz