The purchase of a new home is undoubtedly one of the biggest decisions your clients can make. A smooth transitional process from start to finish is what sets you as a realtor apart from the rest. From assisting your buyer with determining their needs versus wants to directing them towards the best lender are just a small part of the home buying experience. That’s why we’d like to help you better prepare your existing and future clients on the initial request that a mortgage lender will need to help expedite the process. Here’s what your client needs…

• Last 30 days consecutive pay stubs (LES for military personnel). If you do not have your pay stubs, please obtain a signed letter from your personnel department stating your pay rate, house, and year-to-date income.
• Last two years of W-2 Forms (and 1099’s if applicable) covering all jobs during that time-period.
• Copy of your last 2 years of Federal Tax Returns (all pages). Please sign the bottom of page 2 of your returns to certify that it is a true copy of the information you turned into the IRS. Corporation, S-Corp, or Partnership: Need the last 2 years Business Returns and K1’s if applicable.
• If you currently own an investment property or a second home, we will need a complete copy of your last 2 years Federal Tax Returns (all pages). Please sign page 2 of the returns verifying that you are providing a true copy and copy of the current lease, mortgage statements, and homeowner’s insurance for each property.
• Bank statements covering the last two months for your checking, savings, and investment accounts (all pages, summary is not acceptable). Also provide the most recent retirement plan statement. Please provide a written explanation and supporting documentation for any large deposits of $500 or more going into your bank accounts. No need to document your direct deposit pay if it clearly references your employer’s name.
• Written explanation regarding any late payments listed on your credit report. If you have had a bankruptcy in the past, we will need a written explanation detailing what caused the bankruptcy and a full copy of the petition and discharge. If you don’t have these documents, please check with the attorney that handled the procedure or you can call the National Records Administrations at 1-215-305-2020 for instructions on how to request a copy.
• If currently renting, provide your landlord’s name and phone number covering the last 2 years.
• VA Buyers: Copy of your DD214 (member copy 4) or original statement of service from your command.
• Photo ID (copy of the front and back).
  Check or Credit Card made payable to Tidewater Mortgage Services, Inc. for the appraisal fee. (Due once contract is ratified).

With this list of upfront information, not only will your client be better prepared for the pre-qualification process, but soon after speaking with us they will understand the in’s and out’s of the mortgage process! Don’t forget to call Tidewater Mortgage Services with any of your lending questions or needs!