Questions on when applying for a Home Loan

[isekii]

Would you need to provide bank account numbers, CC numbers etc ?

I would believe you'd need to provide the SSN number but what about those numbers ?

Thanks

Let me know

Would the creditor be able to check everything with the SSN by doing a credit history ?

 

[isekii]

anyone ?

 

[conjur]

You'll need just about anything and/or everything.

Seems I dumped over copies of any type of credit statement/bank account I had.

And, had to answer some questions on a couple of 'blips' on the credit radar.

 

[isekii]

Originally posted by: conjur
You'll need just about anything and/or everything.

Seems I dumped over copies of any type of credit statement/bank account I had.

And, had to answer some questions on a couple of 'blips' on the credit radar.

I dont understand why they would need this type of information. Couldn't they pull all this information with a credit check ? ( Car dealerships had no problem find out credit card debts, the amounts, credit line etc... )

 

[conjur]

They are sticklers on paperwork.

 

[RBlount]

I don't know for sure but I would imagine that they want an current and accurate accounting of your Assets and Debts.

I have never seen a checking/savings account listed on your credit report. So the Mortgage company will want to verify the account balances you list.

Also, the credit report may not accurately reflect your actual credit usuage. For example. I have one credit card that I use for a majority of my purchases during the month. So my credit record shows a balance on this credit card. However, since I pay it off every month, the effective balance for this CC is $0.

-Rob

 

[Joemonkey]

for my home loan, we had to have the last 3 paystubs from our jobs, something from our (my wife and i) employers saying we worked there, how long we worked there, and how good our chances for continued employment were. also we needed the last 2 years taxes, all of our current debts and loans, what kind of cars we drove, our account balances for all checking and saving accounts, any stocks and bonds, and something from our landlord saying how long we had lived there and if we had ever been late on rent

good luck!

 

[aircooled]

2 months of good bank statements is the mortgage "key". Show 2 months of good bank records and you're fine.

I used a "secondary" savings account on my last refinance, As long as the paperwork looks good it'll fly..

 

[Vic]

Depends on the lender. Most lenders usually require 2 months banks statements and a credit pull and, as they can get your bank and credit account #'s there, they don't require that you fill those in the application as they can do that for you. On our application software (and most lenders, AFAIK) the credit bureau can be merged directly into the application (to save time having to have it all re-typed in), so yes, they can get it from your SSN and the credit bureau (the key difference being that most creditors leave out the last 4 numbers of your credit card #'s from your bureau, but 99.9% of all lenders don't care about that EXCEPT that you'll have to provide the complete # at closing IF you're paying the account off to qualify).
The key about bank statements is not 2 "clean" bank statements, but to have at least 2 months of the total house payment ("PITI") in the bank for the 2 months right before application. On borderline files, this has made the difference between approval and decline.