GETTING PREAPPROVED
1
REVIEW CREDIT REPORT Credit Score Debt ratio Identity Theft Collections/Judgments EXPLORE LOAN PROGRAMS
To find the best mortgage lender, you need to shop around. Consider different options like your bank, local credit union, online lenders and more. Ask about rates, loan terms, down payment requirements, mortgage insurance, closing cost and fees of all kinds, and compare these details on every offer.
Down payment requirements Interest rates
Mortgage insurance Estimated payments DETERMINE PRICE RANGE What you "qualify" for What you want your payments to be
SET YOUR BUDGET
INCOME QUALIFICATIONS
QUALIFYING INCOME
Income from the lottery Gambling Unemployment pay Single bonuses Non-occupying co-signer income Unverifiable income Income from rental properties NON-QUALIFYING INCOME
W-2 Income/Salary Income from part-time jobs Income from a second Job Overtime & Bonuses Seasonal jobs Self-employed Income Alimony & child support (Documentation required)
W2’S FROM THE PAST 2 YEARS 3 MONTHS WORTH OF PAY-STUBS BANK STATEMENTS (PAST 3 MONTHS) PREVIOUS 2 YEARS OF TAX RETURNS LIST OF YOUR DEBTS & ASSETS DIVORCE DECREE ADDITIONAL INCOME DOCUMENTS NEEDED DOCUMENTS
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