It takes a lot of paperwork to get the loan process started. My husband contacted the same mortgage broker that we got our first mortgage through, to set up a meeting to get the process started on loan approval.
The inital meeting was yesterday (Wednesday February 27th), they met at the realtors office and my husband took all the paperwork the broker had requested.
2012 & 2011 W-2 Forms
2012 & 2011 Signed Federal Tax Returns
Most Recent bank statement for all accounts
Our Hire dates for work
Most Recent pay stub from each of us
Copies of our Driver's Licenses
Any information we have on the land we are going to purchase.
My husband said the meeting went well, and he was pleasantly surprised that our mortgage was only increasing a small percent since the interest rates are so low right now. Our credit score is high and he said it should be no problem to get our loan. We have to pay PMI, but were offered two different options on how to do so. I will find out at our next meeting (which I will be attending with my husband) and write more about this topic.
For the next meeting with the broker we need to have even more paperwork:
Plans & Specifications for our house
Survey of the Land
Builder Contact Information
My 401K statement with all pages, and terms & conditions for the 401K
A $400 check to pay the mortgage company for the apprasial.
Time to get busy requesting prints, and paperwork!
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