One of the most commonly asked questions by potential homeowners when buying a house is: What should I be prepared to provide to my mortgage loan officer during the application process?
For your convenience, you can use the list below as checklist.
Personal Information
-
Name, social security number, and date of birth
-
Present address and telephone number
-
List of places you’ve resided at within the last 2 years
-
Name and address of your present mortgage company or landlord
-
Amount of monthly mortgage or rent payment
-
Previous two years’ W-2 forms
-
Last two years of signed Federal Tax Returns and all schedules
-
Pay stub from the last 30 days
-
Most recent two months’ bank statements, all pages (to include checking, savings, stock, retirement, etc.)
-
Copy of valid picture identification
Employment Information
-
Name, address, and telephone number of employer or employers for the last 2 years and your position or title
-
Length of employment
-
Salary, commission, bonuses, and overtime pay
Self Employment Information
-
Last two years of signed business Federal Tax Returns and all schedules
Other Information
-
Source of other income, such as retirement or rental income
-
Name, address, account number, monthly payment, and present balance for installment loans or credit cards
-
Name and address of attorney handling your home purchase
-
Check for credit report fee
-
Copy of contract, if you are purchasing a home
-
Copy of settlement statement from sale of previous home if sold within the past 12 months
Information for Refinancing
Above information, as well as:
-
Copy of your deed (if your mortgage is not currently with First South Bank)
-
Copy of your Homeowners’ Insurance Policy (if your mortgage is not currently with First South Bank)
Information for Construction
Above information, as well as:
-
Copy of your deed to lot or offer to purchase on lot you intend to purchase
-
Complete set of plans and specifications
-
Signed construction contract
-
Survey of lot, if available
-
Builder information
To learn more about financing options through First South, visit your local branch, contact a mortgage lender in your area, or send our mortgage team a message and they’ll reach out to you directly.