There are many reasons why you may want to see a mortgage broker when you have decided that you want to buy a house. In order to learn more about going to a mortgage broker, continue on with this helpful short guide on the subject:
When might you want to use a mortgage broker?
One reason why you might want to go to a mortgage broker would be that you don't have the best credit and you want the mortgage broker who will know how to find you the right lender. If you know that your situation isn't going to be a straightforward one, then it's also wise to use a mortgage broker. The broker will be able to look at your specific needs and send you to the right lender for your situation. You may also just like the idea of going to a mortgage broker who can do the legwork of finding the right lender for you, so you can tend to the many other things you have to do when planning to purchase a home.
What do you want to bring with you when you use a mortgage broker?
When you do decide to go to a mortgage broker, you want to make sure you show up prepared, so make sure you have all of the following information on you:
Bring information on the loans you may be interested in
If you have been looking into loans on your own, then you should bring a list with you of the ones that you feel may be a good fit for you. The mortgage broker may be able to use that information to help find the lender who can help you obtain one of the types of loans that you are interested in.
Bring all the information the mortgage broker will need
Make sure you have all of the personal information of everyone who will be applying for the loan with you. This information includes things like everyone's full names, birthdates, social security numbers, and all of their contact information.
In addition to this personal information, you will also need to bring the complete addresses of the residences that all the applicants have lived in for the last couple of years.
The mortgage broker will also need to verify everyone's employment and income. Make sure you have the W-2 forms for all of the applicants that covers their last two years of their employment. You should also show up with all of the applicant's last month's worth of pay stubs.
If you are unsure of whether you should bring additional information, you should bring it just in case or ask the mortgage broker what they will need.
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