It is beneficial for borrowers to meet with a mortgage company before looking for a home to determine in advance the price range they can realistically afford and the monthly payment amount for which they can qualify.
For your first meeting with The Krushinsky Team, you should bring:
- Provide most recent paystubs for the last 30 days
- Provide W-2s and/or 1099s for the last two years
- Provide all pages and schedules of the last two years personal Federal Tax Returns
- If self-employed, provide all pages and schedules of last two years business tax returns and corporate K-1’s. You will also need a current year-to-date profit and loss statement.
- If retired and receiving pension income, provide benefit award letter
- If retired and receiving social security income, provide benefit amount letter for most recent year
- If any rental income is received, provide copy of current lease agreement and mortgage statement
- If VA and active duty personnel, copy of Statement of Service Letter and Off Base Housing Authority Letter
- Provide ALL pages of most recent 2 months statements for all accounts; including all checking, savings, stocks, IRA, 401k, etc. The statements must show your name, account number and the name of the banking institution. Be prepared to provide documentation for any large deposits.
- If funds to close will come from a gift, we will provide the gift letter that will need to be completed.
- If funds to close will come from sale of home, copy of Hud-1 from sale of your home
- Copy of enlarged driver’s license and social security card
- Copy of divorce decree including all settlement statements and support orders
- Copy of bankruptcy papers, including all schedules and discharge statement. Also, an explanation letter for the circumstances surrounding your bankruptcy
- If VA, Certificate of Eligibility and Form DD214
- Homeowners Insurance Agent’s name, address, and phone number for the subject property
- If refinance, copy of the mortgage statement from the current lender showing the account number
- If you’re retaining your current residence, provide a mortgage statement showing taxes and insurance are included in the monthly payment.
- If you own a property free and clear, provide the homeowners insurance declaration page that shows that there is no mortgage assigned to the property.
- If you’re currently renting, provide your Landlord’s name, phone number and address. 12 months cancelled rent checks will be necessary for private landlords.
- If you live with a family member, provide a letter from your relative stating you live rent-free.
Having these items on hand for your initial meeting will help speed up the application process. After the initial meeting with the The Krushinsky Team, you should have an idea if you qualify for the size and type of loan you want. If you are unable to qualify at this time, we will gladly discuss any options with you on how to move forward to obtain your dreams of homeownership.