Thanks to the credit facilities, existing in the United States of America to finance the purchase of real estate, the possibility of owning their own home is no longer a precious dream to become reality. The construction industry plays an important role in the national economy and to keep it active and healthy there are institutions that move capital, both private and state, providing money to all who qualify to buy a place to live.
Among the requirements that financial institutions need to work on residential loans, the first being a sale and purchase agreement fully executed by the parties and with the original signatures of each participant in the transaction.Personal shopper IDs such as driver’s licenses, ID cards with photos, Social Security cards or similar documentation must be presented when starting a loan application.
The address of the applicant’s current residence as well as the places you have lived in the past two years, and phone numbers of homeowners that have been occupied at the time, as income may be requested .
Employment history for the past two years, of applicants as well as addresses, phone numbers and names of workplaces and supervisors will be required information.
Information related to tax returns of the applicants in the past two years, such as W-2 forms and / or 1040 forms from the IRS (Internal Revenue Service) as well as recent pay stubs to verify wages must be taken hand to be submitted upon request.
Information from the banks where the monies are intended for purchase. Name and address them. Account numbers and balances, must be submitted when requested. Please also available statements you received in the last three months.
Make sure you have all information pertaining to credit card balances, loans, car payments and anything else that can represent a payment obligation.
If you have other real estate, please have any information on them. If you hold outstanding loans in any of them, make sure the information in the security that will be requested.
The self-employed should have also listed the following documents: Tax returns for the past two years, state income statement and a balance sheet of the business today. The commission must submit workers to Tax Returns for the last two years and a recent proof of payment to justify the reported income.
credit to: J.A. Tony Ruano