Buying a property in Houston is probably one of the most stressful things that most of us will experience during our lives. You can help take some of this stress away by making sure you are fully prepared for your mortgage application The following checklist can be used to ensure that you have everything that is going to need to process your request for a mortgage.

Personal Details

These are usually the first things that you will need to provide and this can help you to get prequalified.

– The name of everyone that will be on the mortgage.
– Your current address.
– The estimated income of the household.
– The estimated monthly debt expenses of the household.

Once you have prequalified then you will need to provide more detailed information to support your mortgage application.

Residential History

– All of the addresses you have lived at for the past two years.
– If you have been renting during this time then you will need to provide the names and addresses of your landlords.

Personal Assets

– The last two months bank statements from all the checking and savings accounts that you hold.
– Statements from any other assets that you hold which may include IRAs, stocks, bonds or any other securities which you may be intending to use for a deposit.
– Details of any other real estate that you own either outright or with a mortgage. This includes the current market value of the property and how much is still owed on the mortgage if there is one. The addresses of this property should also be given.

Employment And Income History

– Paychecks from your employer that show your current monthly earnings and what you have earned so far this year.
– All W-2 or 1-9 tax forms that have been issued by your employer in the past two years.

Personal Debt

If you have any other debt that has not been included on your list of expenses then this should be listed here. It is important that everything is listed at this stage as it is very likely that it will show up on a credit check.

This is usually the minimum list of information that you have to provide. If the bank feels that it needs more information in order to make a decision then you may have to provide additional documentation.

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