Anyone who has worked in this business for a while knows that your first line of defense when buying a home is to have a pre-approval letter from your lender. This means an approval based upon WRITTEN verification of employment, income, and assets. Beware of the lender that says you can be pre-approved in 30 minutes on the phone.
Even with a pre-approval letter, a buyer's work is not done. With tighter lending guidelines in mind, Tab DeMita of Fifth Third Bank prepared the following list for prospective home buyers. Although it's a comprehensive list, keep in mind that other lenders in Ohio and across the country may require even more!
Taking the time to prepare in advance will make the process that much smoother. When you have that pre-approval in hand, call an experienced Realtor® to help you find your dream home....
someone like Barb Szabo!
1. Your addresses for the past two years, and your landlords name and number if applicable.
2. Your employers for the last two years (address and phone numbers).
3. Your pay stubs for the past 30 days.
4. Your W-2s for the past two years.
5. If you were unemployed over the past two years please explain why in writing.
6. Past two years SIGNED Tax returns (personal & business)
7. If you are retired please provide a copy of your award letter for SS or Pension income.
8. Copy of your driver’s license.
9. Copy of your most recent bank statements. (ALL PAGES PLEASE)
10. Copy of your retirement (401-K) account statements. (All Pages Please)
11. If you are receiving a Gift. Please provide a copy of the gift check. Your loan officer will provide you with a gift letter to be signed by all parties.
12. Divorce decree if applicable (entire document please)
13. Bankruptcy documents (all pages showing list of creditors) and an explanation letter.
14. Copy of the purchase contract on the home you’re purchasing (signed by all parties).
15. Copy of the contact on your current home (only if you’re selling).
16. Name and phone number of your Home owners Insurance agent.
17. Credit card information for your application fee (Visa or Master card).
18. You will be asked to explain in writing any delinquencies or recent inquiries that appear on your credit report.
19. Home Owners Association information for all Condos.
Fifth Third Mortgage
Home Loan Consultant – Cell # 330-414-6464
If you would like to buy or sell a home in the southern communities of Cleveland Ohio, please call me at 440-263-7496, or you may want to visit my website for more specific information on the communities I service: Brecksville Ohio Real Estate, Broadview Heights Ohio Real Estate, North Royalton Ohio Real Estate Independence Ohio Real Estate, Seven Hills Ohio Real Estate, Parma Ohio Real Estate, Parma Heights Ohio Real Estate and Middleburg Heights Ohio Real Estate. Information is obtained from Neohrex (Northeast Ohio Real Estate Exchange) and is deemed reliable but not guaranteed and should be independently verified. Properties subject to prior sale, rental, or other status changes. All properties that are advertised as being listed or sold by Barb Szabo are in conjuntion with ReMax Trinity.