Chance Gates' Blog

The question that keeps arising when a client approaches me about buying a home is “what information should I have ready for when I apply for a loan?”.

So to help people out who are getting ready to enter the Reno/Sparks real estate market here is a checklist for you.

Your Residence History:

_____  Your previous addressed for the past two years

_____  The length of time you’ve lived in each place

_____  If you currently rent, your landlord’s name and address (12months)

Your Employment History:

_____  The names and addresses of all your employers for the last two years

_____  The dates you worked at each place of employment

_____  If there have been any gaps in your employment and why

All Outstanding Loans and Credit Cards:

_____  The creditor’s name and address

_____  Your account number

_____  The current total balance you owe and months left to pay

_____  The amount of the monthly payment

Savings, Checking or Investments Accounts

_____  The name and address of each financial institution

_____ Your account number

_____  The current balance or value

Real Estate You Currently Own ( For Each Property)

_____The property address

_____  The estimated market value

_____  The outstanding loan balance(s), the name and address of  the                     mortgage company(s) and your account number(s)

_____ The amount of the monthly payment ( including taxes, insurance and                    HOA dues)

_____  The amount of your monthly rental income (if applicable)

Personal Propert You Own:

_____  The net cash value of your life insurance

_____  The make, year, and value of your automobiles

_____ The value of your furniture, jewelry, or other personal property

Read more at http://chancegates.com/tag/mortgage/