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When you’ve made the decision to buy a home, somewhere along the way you’ll have to meet with a mortgage lender. A mortgage lender is the institution that will eventually loan you the money to purchase a home. It’s important to make a good impression and be fully prepared for the meeting with your lender. After all, you are hoping they will loan you a large amount of money! Many people choose to meet with a mortgage lender before going home shopping, simply to pre-qualify, or find out how much money they can get to purchase a home. They do this so they can narrow down the homes they will be looking at, which is helpful when there are hundreds of home available for purchase at any given time. For the first meeting with a mortgage lender, be prepared to lay your entire financial background bare for scrutiny. The items you will need to remember to include are: * Income pay stubs or business tax returns if you are self-employed * Information on your banking accounts. This includes all checking, savings and investment accounts. Bring 3-4 months worth of statements for each account. * W-2’s and tax returns for at least the past 2 years. * Credit card and loan statements * Student loan statements. Bringing this information with you to the first meeting with allow the lender to take a look at your total financial picture. This helps the lender determine your risk level and how much you can qualify for in a mortgage. These items will also help you go through the mortgage application process quickly when it comes time to actually apply for your mortgage loan. You will, more than likely, have to return for several follow-up meeting with your lender. This includes the meeting to apply for the mortgage, then meeting with your lender once you qualify for the mortgage. Establishing a relationship with your chosen mortgage lender is important as well. It is human nature to work well with people you trust. If you take the time to get to know your mortgage lender and the credentials and reputation of the lender, you’ll feel good about working with him. It will also allow your lender to get to know you and make personalized recommendations in everything from reputable realtors to different types of mortgages. And when you’re dealing with something like a home loan, making sure you establish trust with your lender is important. You will more likely be involved with this person for years to come. Please feel free to visit my site, you'll find a lot of great and useful information about financing or refinancing your property. Simply click on the link below or copy and paste it into your browsers address bar: http://www.seanwatson-mortgage-specialist.com/ You may also reprint this article as long as the resource box is left intact and all links are hyperlinked.
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