One of the first things a Mortgage Lender will need to do is pull your credit report to make sure there are no problems with your credit score. There are times when there are items on your credit that are not yours, so pulling a credit report will help to make sure there are no blemishes there that are not yours. If there are issues with your credit score that are legitimate then the lender will help you to get those item resolved making it possible for your dream of homeownership happen in time.
In order for the Lender to pull your credit report you will need to sign giving them permission to pull and they will need your SS# in order to do so.
Another item that the Lender will need in order to pre-approve you for a mortgage is the 2 past years W-2’s as well as the past 2 pay stubs with year to date income figures.
They will need to see your drivers license and may need to contact your employer for proof of employment.
And last but not least they will need proof of assets showing that you have funds enough for a down payment and closing cost. A bank statement will work for this if the funds are in a checking or savings account. FHA loans will require as little as 3.5% down payments but there are several Conventional loans that will require as little as 5% down as well.
If you would like more information on buying your first home always feel free to contact me! 614-216-8344
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