The days of just telling a loan officer your income, assests, and telling them how much you have is over. The new to the other extreme has been occurring to the last couple of years. Now documentation is needed for everything, if you want to get a home loan. So what do you need to get a California Home loan today? What documents will you need to get preapproved for a California Mortgage?
First we will need to do a COMPLETE 1003 application for mortgage. I put complete because every area need to be filled out. Name, Address, SS #, work history, income, assets, bank accounts with bank account numbers, etc...
You will need to provide.
1. W'2 for the last 2 years.
2. Tax returns for the last 2 years
3. 2 most recent bank statements. all pages, all accounts. This is often a thing the slows people up. They will provide 3 of 4 pages, but not the 4th. Why? Most of the time the last page has nothing on it regarding you account status. But we need that too. Underwriters want all pages to make sure you are not hiding something on page 4.
4. The 4th item you will need to get a home loan preapproved is 2 consecutive pay stubs with the year to date income on the stub.
5. You will need to provide copies of you social security card and ID. Many people can not find there SS card. You can simply go to the local Social Security office and request a replacement. The oter option is to provide a copy of you Pass Port. After 9-11 congress passed many home land security measures and making people prove who they are and there status for a home loan was one of them.
6. Copies of statements for retirement accounts, stocks and bonds etc...
Those are the items that will be needed to start...Be aware you will be asked for more eventually...
As they say "Patients is a Virtue" and it can not hole truer than when you are buying a home.
In the end it will all be worth is, but during the process you will ask your self. Why? How Come? They want what? We have to do what? We already did that?
You will tell your self and your partner. I hate this. Is this worth it? I do not want to do this any more etc...
But that is where a awesomely good, professional, understanding personal mortgage consultant for life comes in. As well as a Realtor who has your best interest will help you through the hard time comes in.
For more information on home loans or if you need me to intorduce you to one of my Real Estate partners please contact me at 831-801-8667 email me at keithwoeste@yahoo.com
Visit my website at http://www.mortgage4california.com
Keith Woeste
Sierra Pacific Home Loans "A Direct Lender"
PH.831-801-8667
FX. 831-665-5260
NMLS#292588
http://www.mortgages4california.com
http://firsttimehomebuyerca.blogspot.com/
Sierra Pacific Home Loans, Inc.
NMLS CA-DOC 222100 - Since 1979
California Finance Lender, CA Dept of Corporation Lic 607373
3478 Buskirk #260, Pleasant Hill, CA 94523
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