Lender Checklist: What You Need for a Mortgage

Lender Checklist: What You Need for a Mortgage

 

1.  W-2 forms — or business tax return forms if you're self-employed — for the last two or three years for every person signing the loan.

 

2.  Copies of at least one pay stub for each person signing the loan.

 

3.  Account numbers of all your credit cards and the amounts for any outstanding balances.

 

4.  Copies of two to four months of bank or credit union statements for both checking and savings accounts.

 

5.  Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
 

6.  Addresses where you’ve lived for the last five to seven years, with names of landlords if appropriate.

 

7.  Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.

 

8.  Copies of your most recent 401(k) or other retirement account statement.

 

9.  Documentation to verify additional income, such as child support or a pension.

 

10.  Copies of personal tax forms for the last two to three years.

Stronger, fresher, longer

Stored food

1) Never pour room temperature milk or cream back into the original container.

2) Add a rib of celery to your bread bag to keep bread fresher, longer.

3) Place ½ apple in the cake box to keep cakes fresher, longer.

4) Cookies stay fresher if you place a crumpled tissue paper in the bottom of your cookie jar.

Household Tips - BATHROOMS

1. If your showerhead is covered with mineral deposits,  remove and soak it in a 50/50 solution of humidifier cleaner and water. (Buy the cleaner at a hardware store.) Soak for a couple of hours.
2. Clean shower doors quickly. Wipe with a used, DRY,  dryer sheet (IE: Bounce).
3. Lime-Away is said to be the best commercially available toilet and tub cleaner.

WHAT’S YOUR STYLE? A guide to America’s Most common Home Styles

Styles of houses vary across the country.  From the New England Cape Cod to the Victorians of San Francisco, the choices are almost endless.  Knowing which style you prefer is one of the basic elements in your hunt for the perfect home.
Following is a quick guide to help you recognize and use the professional terms for many of the most prevalent house styles:
•Ranch:  these long, low houses rank among the most popular types in the country.  The ranch, which developed from early homes in the West and Southwest, is one-story with a low pitched room.  The raised ranch, which is also common is the U.S.. has two levels, each accessible from the home’s entry foyer, which features staircases to both upper and lower levels.
•Cape Cod:  this compact story-and-a-half house is small and symmetrical with a central entrance and a step, gable roof.  Brick, wood or aluminum siding are the materials most commonly seen.
•Georgian:  Popular in New England, the Georgian has a very formal appearance with tow or three stories and classic lines. Usually built of red brick, the rectangular house has thin columns alongside the entry, and multi-paned windows above the door and throughout the house.  Two large chimneys rise high above the roof at each end.
•Tudor:   modeled after the English country cottage.  Tudor styling features trademark dark-wood timbering set against light-colored stucco that highlights the top half of the house and frames the numerous windows.  The bottom half of the house is often made of brick.
•Queen Anne/Victorian:  Developed from styles originated in Great Britain, these homes are usually two-story frame with large rooms, high ceilings and porches along the front and sometimes sides of the house.  Peaked roofs and ornamental wood trim, many times referred to as “gingerbread,” decorate these elaborate homes.
•Pueblo/Santa Fe Style – Popular in the Southwest, these homes are either frame or adobe brick with a stucco exterior.  The flat rood has protruding, rounded beams called vigas.  One or two story, the homes feature covered/enclosed patios and an abundance of tile.
•Dutch Colonial – the Dutch Colonial has two or tow-and-one-half stories covered by a gambrel roof (having two lopes on each side, with the lower slope steeper than the upper, flatter slope) and eaves that flare outward.  This style is traditionally make of brick or shingles.
•New England Colonial – This two-and-one-half story early American style is box like with a gable roof.  The traditional material is narrow clapboard siding and a shingle roof.  The small-pane, double-hung windows usually have working wood shutters.
•Southern Colonial –this large, two-to-three-story frame house is world famous for its large front columns and wide porches.
•Split-levels: Split-level houses have one living level about half a floor above the other living level.  When this type of home is built on three different levels, it is called a tri-level.

These are just a few of the many styles of homes available across the country – some are more prominent in different areas than others.  Knowing home style terms will help you zero in on the type of house that will fill your needs and suit your taste.

Top 5 Factors Affecting Your Credit Score

1. Your payment history   Did you pay on time?  If they were late, how late?  If it was some time ago and you had good payments since it will not effect your score that much.  


2. How much you owe  If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits. 

3. How long have you had credit?   In general, the longer you have had accounts opened, the better. The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.