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What You Should Have Prepared For Your Lender

What You Should Have Prepared For Your Lender

Not sure what you’re lender needs from you? Here is a list of 10 things that you should have together and ready for your lender. Prepare yourself to get that copy machine warmed up!

1. W-2 forms or business tax return forms if you’re self-employed for the last two or three years for every person signing the loan.

2. Copies of one or more months of pay stubs from every person signing the loan.

3. Copies of two to four months of bank or credit union statements for both checking and savings accounts.

4. Copies of personal tax forms for the last two to three years.

5. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account.

6. Copies of your most recent 401(k) or other retirement account statement.

7. Documentation to verify additional income, such as child support, pension, etc.

8. Account numbers of all your credit cards and the amounts of any outstanding balances.

9. Lender, loan number, and amount owed on other installment loans—student loans, car loans, etc.

10. Addresses where you lived for the last five to seven years, with names of landlords, if appropriate.

If you have any questions concerning on how to improve your credit to get the loan you deserve check out this article on improving credit.

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