1. If you haven't checked your credit lately, do so before you begin the process, and scrutinize the report for errors. Do this with all three credit reporting agencies.*
2. You should begin collecting the following items before you begin the application process:
- Last year's W-2 form.
- Last year's Federal Income Tax Return, including all schedules, signed and dated.
- Most recent pay stubs for each co-borrower.
- A copy of you most recent mortgage statement, if you currently have an existing mortgage.
In addition you may need additional documentation, depending on your particular circumstances. For example, a self-employed borrower might be required to produce signed and dated tax returns, and year-to-date profit and loss statements less than 60 days old. Persons on social security may have to provide a copy of the awards letter and a copy of a recent benefit check. You may be required to produce lease/rental rates if you own other real estate, along with copies of property tax and insurance bills. If you receive alimony or child support, you may need to provide a copy of your divorce decree and evidence of receipt of income for 12 months. If you pay alimony or child support, you may need to provide a copy of your divorce decree. If you have had a bankruptcy within the last seven years, you may need to provide a copy of your bankruptcy discharge, a copy of the petition, and an explanation of the circumstances. If you are currently a renter, you may have to provide copies of rental payments for the prior 12 months, and the name and address of your landlord. Your mortgage broker will assist you in determining what you will need depending your your circumstances and the requirements of lenders.
3. Call Louisiana Fidelity Mortgage at
985-590-4194
or
Apply On-Line!
* Experian , Transunion , and Equifax
