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10 Rules You Must Follow When Getting Pre-Qualified for a Mortgage

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Mortgage Documents

What documents do we need from you to obtain home financing? Your 3rd grade report card? Your cat's DNA profile? A copy of that speeding ticket you got when you were 16? Nope, those are all just mortgage myths. Learn the real truth of what we need here!

Here are the documents The Jeff Stempler Team actually recommends:

Driver’s License or Government Issued Photo ID

Social Security Card, if available

Pay Stubs covering most recent 30 day period

W-2 and/or 1099 forms from the previous two years

Most recent 2 years of federal tax returns with all coinciding schedules

Bank, investment, and retirement account statements (all pages) for previous two months or most recent quarterly statement

Of course, if you own other properties or are self-employed we will need additional documents. But I sincerely promise to never ask for your cat’s DNA. 

Ready to get started? Let’s talk!

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It is once again time to bust another mortgage myth! There are NOT a million rules to follow when applying for a mortgage, these 10 Simple Rules to cover most issues!

1.       Do Not Change Jobs or Become Self-Employed. Steady employment is the best thing to see on an application.

2.      Do Not Buy a New Vehicle. Keep your eyes on the prize, new cars can wait.

3.      Do Not Fall Behind on Your Bills or Credit Card Payments. Now is not the time to pay late or even worse, miss a payment.

4.      Do not spend money you saved for your down payment. You’ve worked so hard to build up your savings, do not go on a spending spree now.

5.      Do not buy furniture before you buy your house. Wait! Move into your dream home, then decorate it.

6.      Do not originate any new inquiries on your credit report.

7.       Do not make large deposits without checking with your lender. As part of your application, large deposits are sourced. Before you hit the bank, call your lender.

8.      Do Not Change Banks. Consistency is key.

9.      Do Not Co-Sign a Loan for Anyone. You don’t need more debt.

10.   Do not make Large Purchases until after closing. They can wait.

Applying for a mortgage does not have to be a complicated experience! With a little patience and smart choices, you  can purchase the home of your dreams.

Ready to use a better lender? Ready to start applying for a mortgage?

Please contact me to discuss your home buying dreams and goals!

See what buyers are saying about The Jeff Stempler Team:

“Jeff and his team explain the process in detail and were always available to answer any of my questions. In addition, they provide weekly updates which helps to keep the communication flowing and decrease some of my anxiety! I have worked with Jeff and his team several times now (3 or 4). They are very professional and responsive, and consistently, there are no surprises at the end of the process, at the time to signing, which feels great! I couldn’t think on any other way to make this better!” PM, Frederick, MD

“Jeffrey Stempler really exceeded our expectations. The process was really smooth, and he kept us informed at all times. He has a great team working with him. Jeff was really professional, super nice, and most importantly he make it happen. A really first class service. Highly recommended!!!!!!!” AS, Washington, MD