Real Estate Advice for Tuesday, August 8th, 2006

Help Your Loan Approval - Loan Application Checklist:

□ Executed sales contract on property being purchased.
□ Plot survey.
□ W-2 forms for the previous two years.
□ If you have been a full-time student for the past two years, provide a copy of your school transcripts or diploma.
□ If you are self employed, commissioned or using rental income to qualify, provide complete and signed personal and business tax returns for the past two years.
□ Year-to-date signed profit and loss, if self employed.
□ Copy of rental or lease agreements on all rental properties owned.
□ Three most recent pay stubs from employer with year-to-date for each borrower.
□ Copy of the last three statements on all asset accounts: banks, stocks, etc.
□ Copy of loan payment coupons.
□ Copy of last charge account statements with balances, names, addresses, and account numbers.
□ Copy of divorce or separation agreement in full when declaring income or debt from such agreement.
□ Names, addresses, and account numbers for any mortgage company or landlord for previous two years.
□ Names and phone numbers of both listing and selling agents.
□ Copy of listing and/or contract on any properties currently for sale.

Purchasers applying for a VA loan also should provide the following information:
a. Original certificate of eligibility - from VA.
b. Copy of separation papers - VA form DD214.
c. Statement of service - from commanding officer.
d. Copy of transfer of orders, if applicable.

Finally, bring a checkbook to pay for your credit report and appraisal fees, which are usually collected at application.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com