Financing in Ventura>Question Details

Yl, Home Buyer in Ventura, CA

To be approved for a loan: what documents I need to submit to mortgage lender ?

Asked by Yl, Ventura, CA Fri May 17, 2013

My FICO 820, down - 25%, $400,000- loan. Looking for a single home in Ventura or Camarillo. Can someone to assist to obtain 3.25% 30y conventional mortgage.
Thank you,
YL

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Answers

5
Hi Yury,

RE: "To be approved for a loan: what documents I need to submit to mortgage lender?”

What you need to provide is based on your income sources; see the following Buyer's Document Checklist at http://docs.Steven-Anthony.com/BDC.pdf

-Steve
0 votes Thank Flag Link Sat May 18, 2013
Yuri,
The answer is "All of them." Whatever your lender asks for, give them. One of the major reasons loans are denied or delayed is a borrower not providing all the documents required.
The minimum is typically 2 years taxes, 3 month bank statements.. all pages of all accounts, and 30 days of pay stubs. You may also have to explain any unusual activity in your accounts regarding unusual deposits or expenses.
The better job you do providing what your lender requests, the better job they can do getting your loan approved and your terms favorable. Best of luck.
0 votes Thank Flag Link Sat May 18, 2013
Yury, the documents you would need would be:

Past (2) years of your W-2's

Recent Bank Statements

Recent Credit Card Statements

Last (2) paystubs or copies of recent paychecks

The lender will run your credit report

Each lender has different requirements but I would recommend going in OVER prepared. You will be surprised to see how much information lenders need in today's market to approve you. If you want more information feel free to contact me. Good luck!
0 votes Thank Flag Link Fri May 17, 2013
Hi Yury. How have you been? If you are ready to get pre-approved now we can assist you with either a direct lender or mortgage broker. You'll need last 2 years income tax returns, proof of income, assets, plus they will check your debt-to-income ratios. Thanks for checking in!!
0 votes Thank Flag Link Fri May 17, 2013
Hi Yury,

The documents you would need are on the link below.

In addition the Purchase Contract would be necessary.

Mortgage pricing vary on a daily basis. You will have to wait to get the rate of 3.250 or pay to get that rate.

I do loans only in California.

Thanks
Jacob Varghese
NML:S 327086
0 votes Thank Flag Link Fri May 17, 2013
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