TERRA MORTGAGE

Not everything listed below will be applicable to you. Please only gather the information that is applicable to your situation.

Please provide me copies of the following information in order to process your pre-approval:

1. W-2’s for the past 2 years.
2. Paycheck stubs covering the past 30 days
3. Asset statements such as checking, savings, money market, stock accounts and Retirement 401k/IRA. If these statements come monthly, provide the last 2 most current statements, if they come quarterly, one current quarterly. Please provide all pages.
4. If you rent, Name and phone number of landlord, if you pay to a management company. If you pay rent to an individual, I will eventually need 12 months canceled checks for your rent. Your landlord will not be told you are buying a home, only ask if you have made your payments on time.
5. I will also need to take an application over the phone. Please be prepared to give me where you have lived for the past 2 years and name, phone and address, where you have worked for the past 2 years. I will need your full name and social security number for the credit check
6. Copy of current payment coupon on any existing mortgage to prove it is impounded for taxes & insurance, if applicable and if we are not paying off this mortgage.
7. Copies of your Driver’s License. (Be sure that issue date and expiration date are legible )For FHA & VA only, copy of your Social Security card
8. If you are self employed, I will need copies of the last 2 years of personal tax returns, all pages of Federal only. If you are Incorporated/Partnership,LLC, I will also need copies of the last 2 years of business tax returns, all pages of Federal only.
9. If you own a rental property, please provide a copy of current rental agreement on any investment/rental property and copies of the last 2 years of Federal Tax returns.
10. VA loans only, copy of DD 214 and Original Certificate of Eligibility, if you already have one.

It is always a good idea not to apply for any new credit of any kind if you are going to buy a home in the next few months. It could affect your fico score. Also, keep a complete paper trail of any monies you transfer or any new large deposits into your accounts, such as gift money. Always make a copy of the check before you cash it and keep the deposit receipt into your account. The donor of the gift will also need to provide a current, unaltered statement verifying they had the money to give in the first place. We always have to explain any new large deposits and the timing and source of this money could effect your transaction. Please just talk to me first before you do anything to make sure it will not affect your buying power.

You can fax, email or call me for pick up for these above mentioned copies. Gather the majority of these items and send them to me with the rest to follow. There is no cost or obligation to get pre-approved, just information so you can make an educated decision on what price range you qualify for in purchasing a home.       

In the event you should have any questions, please do not hesitate to call me at the cell phone number below.

Faye Markland, Loan Officer

Terra Mortgage

Office:  714-500-3345  Fax:  714-500-3365

Cell:  949-584-3616