Information Needed To Buy A Home
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When you are looking to buy a home your mortgage professional will need to obtain certain information from you. One of the most important items of information needed from you will be your name, address, and social security number so that your mortgage professional will be able to do a credit check and analyze your credit report, credit history and credit scores. Your credit scores will play a major role in what type of loan you will qualify for, how much of a loan you will qualify for and how much of a down payment will or will not be required of you. Therefore, it is very important to make sure that you work hard at keeping your credit in good standing and maintaining high credit scores.When you are buying a home you also need to get home owners insurance. Your mortgage broker will need the name and phone number of you home owners insurance agent to add the mortgage lender into the mortgagee clause in the policy.
Assets: Your mortgage professional will want to know the source of your down payment and closing costs. Typically you will need 2 months of bank statements, your most recent 401k/IRA statements, and 2 months worth of any other assets accounts such as investments, CD's, etc. Even if you are planning on obtaining 100% financing, please bring all of your monetary asset accounts.