If you are considering buying or selling a property, there is one quick way to find answers to all your questions:  Just Ask Allen

Home Buyer Tips - Lender Checklist

If you are considering buying a home, you want to hit the market well armed to make and offer when you find "the" right property.   Here are some tips on how to go about it:

Get pre-approved.  Many real estate professional won't show you properties unless you've been pre-approved for a mortgage. And you'll need a pre-approval letter to even negotiate with sellers; most experienced listing agents will advise their clients to demand a pre-approval or pre-qualification letter up front when an offer is made.

The difference between pre-approval and pre-qualified.  A pre-approved buyer is one whose credit has been pulled by the mortgage broker or banker; pre-approvals are taken far more seriously than a pre-qualification when a Buyer submits an offer on a property.

When you have a contract, what you need for a mortgage:

  • W-2 Forms or Business Tax Returns - a minimum of 2 years
  • Copies of at least one pay stub for each person applying
  • Account number and balances of credit cards
  • Lender, loan number and amount owed on any loans
  • Addresses for the lst five years; include landlord contact info
  • Copies of brokerage statement for the last 2-4 months
  • A list of all assets (stocks, bonds, RV, boat, etc)
  • Documentation of additional income (child support, etc.)
  • Copies of personal tax forms for at least the last 2 years

Five things which affect your credit:

  • ​How much you owe
  • The types of credit (car loan, credit cards, etc.)
  • The length of your credit history
  • How much new credit you have
  • Your payment performance history (whether or not you paid on time)

Feel free to call me at your convenience for a no-obligation conversation about your home shopping or selling goals!

Submitted by:

Allen Duhé, Realtor, GRI, CRS, MBA, Licensed in Louisiana, Van Eaton & Romero, A Latter & Blum Company, ERA Powered, 2000 Kaliste Saloom Road, Suite 101, Lafayette, Louisiana 337-254-7812 (cell) 337-291-4724 (direct)  337-233-9700 (main)