FINANCING REAL ESTATE

Need Financing for your home ?

• If you will need financing for your house, then, it is very important that you get a letter of Pre-Approval from a Mortgage company. This will facilitate the showings and the acceptance of an offer. Just make a call to your mortgage company and ask for that pre-approval letter. 

• Ask to the mortgage company to inform you the conditions of the loan ; interest rate, points, fees, APR, etc. and to inform you about the list of documents they will ask you, if you decide to make the Loan application with them. This will help you to evaluate if you can meet the requirements of such company.

Please review this list of MAIN documentation that most lenders will ask when processing a conventional loan:

• W-2 forms for previous 2 years or Federal tax returns ( 1040s) for the past 2 years

• Pay stubs for previous 30 days

• Bank statements for previous 60 days

• Bankruptcy discharge 

• Divorce paperwork

• Debt Records, names and account numbers for : Student loans, bank loans, child support, credit cards, car.

• Asset records: 401K, IRA's, stocks, annuities

• If Self-employed: Previous 2 years tax returns & profit/loss statement/balance sheet

• If retired: previous 2 years tax returns, verification of funds, Social Security or retirement letters 

• If retired : Pension or Social security awards

• If re-financing: homeowners insurance policy & property tax statement

                                Loan Check List

Asset Items
• Bank statements for previous two months on all accounts
   (all pages)
• Statements for two months on all stocks, mutual funds,
   bonds, etc…
• Copy of latest 401K statement (or other retirement assets
   because they can count as reserves)
• Copy of HUD1 Settlement Statement on recent sales of homes
• Copy of Estimated HUD1 Settlement Statement if a previous
   home is for sale, but not yet closed
• Gift letter (if some of the funds come as a gift from a family member)

Note: many get their statements of various kinds over the internet and these are not always acceptable to lenders, especially when the printed version does not contain the borrower's name, account number, and the name of the institution. Please provide original mailed statements when possible.

Credit Items
• Landlord’s name, address, and phone number (if you rent - for
   verification of rental)
• Copies of twelve months cancelled rent checks (front and back)
• Copy of bankruptcy papers-all schedules (if you have filed
   bankruptcy within the last seven years)
• Copy of Consumer Credit Counseling plan (listing debts included in plan)

Other
• Copy of purchase agreement (if you have already made an offer)
• To document receipt of child support (if you desire to show it
   as income)
• Copy of Divorce Settlement (to show the amount)
• Copies of twelve months canceled checks to document actual
   receipt of funds
• Copy of Social Security Card (or other documentation with
   social security number)
• Copy of Driver’s license
• Copy of Homeowners Insurance Declaration Page

Thanks for visiting us !!!  

Theresa Canizales        (954) 559-3675

Theresa Muller Canizales National Association of Realtors ( NAR ) Florida Association of Realtors ( FAR ) Miami Board of Realtors  CRS ( Council of Residential Specialists) Degree in Education Fluently in English, Spanish and Portuguese Luxury Marketing Institute

2000 NW 150 Avenue, Suite 2000
Pembroke Pines, Florida 33028

Phone: 954-559-3675

Fax :    954-237-7095

Email: tere@housesinbroward.com 

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