What causes mortgage rates to rise and fall?
Here are a few of the reasons, courtesy of Adrienne Weiss at Guild Mortgage.
While income and a good credit score are important, one of the biggest tasks you face as a borrower is gathering all the necessary documentation to provide to your loan officer to get the process started.
Keep in mind that you won’t know your price range for a home until you get your pre-approval. I work with great loan officers, with different areas of expertise, but the one thing they all expect you to provide is listed here:
- 30 days of paystubs, with year to date income information
- 2 months of bank/asset statements (all accounts/all pages
- Last 2 years W-2’s and/or 1099 forms
- Last 2 years of Federal Tax Returns with schedules
- If self-employed, last 2 years Federal Tax Returns for business
- Most recent retirement statement\
- Social Security Awards Letter (if applicable)
- Complete Divorce Decree (if applicable)
- Bankruptcy papers (if applicable)
- Alimony and/or Child support information (if applicable)
- Mortgage Statements/Tax/Insurance information for all properties owned
To connect with a loan officer who can provide the best service for you, give me a cal, text or email and I’ll send you in the right direction on your path towards your home purchase.