To provide you the most
efficient service in processing your loan, certain information is needed at the time you
apply.
Most or all of the following
information is needed at the time of application:
Copy of the sales contract
with original signatures
Social security numbers of
all applicants
Residence address and
landlord’s or lenders names and addresses for past two years.
Proof of income from all
sources for the past two years including salary, commissions, overtime, bonuses, social
security, disability payments, pensions, etc.
Current pay stubs for a
period within the last thirty days showing your name and current year-to-date earnings.
If self-employed or
commissioned, include copies of last two years’ Federal tax returns, personal and
corporate, plus a current financial statement.
List of all checking and
savings accounts with names, addresses, account numbers of each depository and the
approximate balances and your most recent three statements for each account.
List of all assets and their
market value, including real estate, boats, stocks and bonds.
Names, addresses, account
numbers, balances and monthly payments of all open credit accounts including mortgages.
Funds for credit report and
appraisal.
The formula for
determining the information above is dependent on the correct information being typed in
the appropriate boxes. The formula and procedure used was derived from materials
distributed by one of the largest and most respected home mortgage businesses in Macon,
GA. However, this formula may not work for everyone and both the sponsor and the designer
of this web site are not responsible for any conduct resulting from the use or misuse of
this web page. Even though this web page may be considered an excellent guide for determining
home ownership affordability, it is important and necessesary for all prospective buyers
to consult with appropriate professionals (accountants, mortgage loan officers, etc.) in
person before making a final determination about how large of a house payment one can
afford. |
