Meeting With Your Mortgage Broker
As many consumers are already aware, a mortgage broker acts as
a liason between the borrower and the lending entity. Most mortgage
brokers will request several documents from you in order to fill
out your loan application. Try and have this paperwork ready at
least a few weeks before meeting with the broker so you are sure
to have it available when asked. If you are a disorganized person
who normally throws away financial records, start saving them
right away so you will be prepared.
The mortgage broker will of course require proof of your identity.
Acceptable forms of identification normally include a driver’s
license or a green card for non-citizens. Also prepare a list
of street addresses where you have lived over the past two years.
Items to bring will probably include proof of income such as
W2 forms, the name and address of your employer, pay stubs, and
your employment history. Also provide statements from any bank,
mutual fund or investment accounts you hold. Note: If available,
statements from the past three months are helpful. If you are
citing any other income source, such as child support or Social
Security payments, bring in that documentation as well.
Another important aspect of your meeting with the mortgage broker
will be a discussion of your credit history. Prepare for this
by obtaining a copy of your report in advance and making sure
it is correct and up-to-date. Be ready to explain any anomalies,
such as charge-offs or late payments. Your broker can work with
you to repair any negative entries, whether or not they are accurate.
He or she likely has experience aiding people who face credit