by : Brad Franklin

Plan Ahead Get ready to fill out lots of forms and supply a multitude of notarized and legally sealed background documentation. To be adequately prepared you should consider getting these documents ready to speed up the process:

• Two years of tax returns with W-2s.
• Your social security card.
• Bank and credit statements for the last three months.
• Current employer information and verification—an employment contract or letter from your employer will probably be required. If you are self-employed, have three years of professionally prepared financial statements or tax returns available.  
• Most recent pay stub showing year-to-date earnings.
• A list of investments, pension plans, 401ks etc., and any other investments.
• If you choose to include income from child support and/or alimony, bring copies of court records of cancelled checks showing receipt of payment.

Construction Loan Information

There are various fees associated with getting your mortgage from escrow fees to loan processing fees to title insurance to flood reports. Make sure you are comparing apples to apples if you are shopping around for the best rate. Some financial institutions offer lower interest rates, but charge higher application and processing fees. Don’t be afraid to ask your mortgage broker to put any and all costs on the table before you proceed to apply for your mortgage.