Whether applying for a new mortgage or refinancing your existing mortgage, having the items below prepared before you make your next move, will help simplify the process.
Here are the items that your Envision Capital Mortgage Loan Officer will need to start the process. If you have a question regarding any of these items or believe that you may have difficulty providing one or more of them, rest easy as you will not be banished to Loan-Applicant jail. We are here to help and can answer any of your questions (minus the whole meaning-of-life thing) and can give you alternatives and ideas on how to get your hands on those allusive W2s from last year that your dog must have eaten.
1. Current/Past Residences
Gather your residential addresses for the last two years. If you have rented, jot down the names and contact information of landlords.
Where do you work? We will need the name, address, and telephone number for any employers you have had over the past two years.
Speaking of work, we will also need copies of your paystubs for the past 30 days or at least two pay periods. Printing them from an online source is just fine, as are the good old hard-copy rip and tear variety. We are not partial to either, but do like fresh-baked chocolate chip cookies and long walks on the beach.
4. W2s and Tax Returns
Now the fun stuff! W–2 forms. We will need your last two years of W2s. If you are self–employed, earn commissions, overtime, or bonuses, you are extra lucky and we will need personal and/or corporate complete tax returns from the past year.
5. Basic Assets
Now that you’ve made the money, and given some of it to Uncle Sam, we need to see where you are keeping it. Please provide copies of your last two months’ bank statements. Checking and savings, if you have both, and copies printed from your online account will generally work. In the words of Rod Tidwell in Jerry Maguire, “Show me the money”.
6. Additional Assets
Plan on using fortune from far-off places in your transaction, like IRA funds or the sale of that stock your brother-in-law pressured you into buying after two glasses of eggnog at the family holiday party? Sounds great to us, but we will need statements from those accounts as well.
All silliness aside, we are serious about getting you the loan that is the best fit for your situation. If you have questions or concerns about any of the items referenced in this checklist, just ask! Additional items are likely to be required from the lender and we will be keeping you up-to-speed throughout the process to make it go as smooth as possible.