Michigan's Loan Modification Program

These are the basic documents/paperwork required when prequalifying for a new home loan.  If you are thinking about purchasing a home then begin collecting these documents to ready yourself for application. 

1. Copy of Driver's License front and back or an approved photo Id
2. Social Security card front and back
3. Two (2-biweekly) or four(4 weekly) most recent pay check stubs.  (If direct deposit, then
   bank statement(s) indicating the same. 
4. W-2 for the last two years
5.  Last two years (all pages) of your IRS tax returns including profit and loss statement(s) if self-employed.
6. Last two month bank statements (all checking and saving bank accounts).  Include copies of all pages even if blank.
7. The most recent statement of 401-K, 403B, IRA or other retirement plans
8. Copy of sales contract including all addendum(s) signed by both parties
9. Copy of earned money deposit check (front & back)
10. Listing and selling agent(s) telephone and fax numbers
11. Copy of lease agreement on rental properties (If applicable)
12. Check for appraisal payable to appraisal company (when asked)
13. Survey if applicable
14. Attorney(s) phone and fax numbers if involved in transaction 
15. Divorce or marriage certificate (if needed)
16. Other income statements such as SS award letter, child support, alimony etc.

Note:  If you are a first time home-buyer, the lender/bank looks for 3 lines of credit that are in good standing (such as credit cards (Visa or Mastercard); cell phone bill in buyer's name, utility bill(s) in buyer's name, auto loan, etc.).   Any combination will do. 

Get a Home Purchase Loan and Get Paid!

David Brigle

brigle@appraisaloffice.biz

HOTLINE: 1.800.826.1929