Getting Ready
Remember that first impressions do count - and the best way to make a good impression is be prepared.
Gather the following information to submit to your lender:
-
Current statement of earnings of all purchasers
-
Updated bank account balance(s)
-
Current credit card statements
-
Car loan or lease information
-
Other debt information
-
All asset information:
- vehicle information
- home furnishings
- investments
- vacation property (trailer, timeshare)
- collectibles (they must be professionally appraised)
-
Projected down payment information
Names, addresses and telephone numbers of:
-
Employer(s)
-
Checking/savings account bank branch and contact
-
Brokers
-
Landlord
You may also want to perform preliminary calculations to figure out
your debt service ratio. This will give you a rough idea of where you
stand before you even see your lender.
