The following is a list of common items borrowers may also need

1. Title Insurance Policy -Refinance Only- (ALL HOMES HAVE TITLE INSURANCE) If you are refinancing, find your original settlement package. Locate the title insurance policy number. This Policy number can be used to update your new TITLE INSURANCE POLICY and by having the original policy you can save around a third off the new policy

2. Bankruptcy (NO YOU DO NOT HAVE TO WAIT SEVEN YEARS AFTER A BK TO BUY) Standard government lending guidelines are two years out of BK, That means two years since it was discharged. With no late payments on accounts. With lates there must legitimate circumstances. There are also many subprime loans (often called B,C,D or ALT. credit loans that are available one day out of BK/Discharged. Either way gather your BK information and discharged papers because the lender will most likely need them. If you have misplaced them contact your BK attorney they will have them on record usually for 3 years. If you are unable to contact the attorney you may contact the clerk of the court that the BK was discharge at. They will be able to provide you with a copy.

3. Other Income (Part time jobs only count if you have had them for at least two years. You may also receive child support alimony or separate maintenance. You do not have to disclose this information but if you do you usually need to show that it was court ordered and has been received for about two years and should continue for at least two more years.

4. Rental Income ( Mortgage Underwriters like to see that if you are using rental income, to qualify for a loan, that you have had at least two years experience as a landlord, that you have canceled checks from the tenant and a lease agreement.

Please contact us on our home page link with any questions you would like answered.