When it comes to getting a mortgage, there are a few things you can do before hand to get ready for the process.  Here at KC Loan Tips we refer to this as getting mortgage ready.  We'd really like to help you be ready, because, well, frankly it helps us while we're doing all that background work on your mortgage. So I'd like to give you few simple tips to help you be mortgage ready (and so you won't be so stressed as we go through the process!)

  • The first step in any mortgage process is to apply for your pre-approval, it's a quick application that doesn't cost anything but it helps us get an idea of what you're working toward and what we're working with when it comes to your home loan.  You can find out pre-approval application at
We'll need to verify your income.
  • Pay Stubs - We're going to have to see at least your last 2-3 of your most recent paystubs so we can verify that you're gainfully employed and making what you've reported on your pre-approval application.
  • W-2's - You'll need to have your last 2 years of W-2's (this is just another step in verifying your income.)
  • Tax Returns - The final step of verifying your income is to have 2 years of tax returns.
Dealing with Debts
  • You should have disclosed your debts on the pre-approval application, but we'll need to  know about everything from car loans to student loans, mortgages and credit card accounts.
Credit is a big deal
  • We'll be bluntly honest here.  Your credit score can make or break your ability to get a  home loan with ANY mortgage company.  One of the ways you can make sure you're getting mortgage ready is to know what's on your credit report before we check your credit for the mortgage process.  (but don't check it over and over again, that can hurt your credit, about 3 months before you're looking to get your home just check and make sure all the information is correct and up to date.)
Savings and other accounts & Rentals
  • If you're doing a great job saving money via a retirement account or a mutual fund or any other type of account we'll need to know about it, be ready to provide your last 2 statements on these accounts.
  • If you have any rental property we'll need verification of that as well, so we can identify those as our underwriters look for those.
Regarding VA Loans
  • If you'r eapplying for a VA Loan then we will also need a copy of your DD214/Certificate of Eligibility.
Divorce, Bankruptcy, Foreclosure, 
  • We sincerely hope that you haven't had to go through any of the unfortunate circumstances listed above. If you have had to deal with those then we'll need your divorce decree, statements regarding your bankruptcies or your foreclosures.
Getting this stuff together beforehand is always a great idea, but beware that a lot of times we'll need to get more information as it's needed or asked for, so just be ready and willing to help us out as we're working to get your mortgage deal done on time and with as little stress as possible.  If you have any other questions about getting mortgage ready or any other home loan questions feel free to call or email us!
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