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When planning to buy a house, one should complete a listing of all of your
asset and debt accounts and their current balances. Your mortgage
application will require this information. Compiling this information
in advance will save a lot of time filling out the application form. This information will be compared against a credit report that the lender
will obtain.
Below is an example list of information you should prepare before filling
out a mortgage application form (assumes you do not own property already):
General Information:
-
Name
- Phone Number
-
Mailing Address
-
Home Address
-
Previous Home Address
-
Work Address
-
Work Phone Number
-
Previous Work Address (if job changed recently)
Asset Account Listing (examples listed):
- Bank Name, Checking Account Number, Balance, Date
- Bank Name, Savings Account Number, Balance, Date
- Brokerage Account Name, Account Number, Balance, Date
- Auto, Paid in Full, Year, Make, and Model
- 401k Trustee Name, Account Number, Balance, Date
- IRA Trustee Name, Account Number, Balance, Date
Debt Account Listing (examples listed):
- Auto Lender Name, Account Number, Balance, Date
- Credit Card #1 Bank Name, Account Number, Balance, Date
- Credit Card #2 Bank Name, Account Number, Balance, Date
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Real Estate 101 Page
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