If you are buying or refinancing a home:

1. Two years W-2 and one month of pay stubs if you are salaried OR two years tax returns and a YTD profit and loss statement if you are self-employed.
2. Rental agreements and two years tax returns if you own rental property.
3. If you wish to speed up the approval process, please also provide three months bank statements for each bank, stock and mutual fund account.
4. Recent copies of any stock brokerage or IRA/401K accounts that you may have.
5. A letter explaining what you plan to do with the proceeds, if you are requesting a cash out refinance.
6. A copy of divorce decree if applicable.
7. A copy of your green card (front and back) if you are NOT a US citizen, or your H-1 or L-1 visa if you are NOT a permanent resident.

If you are applying for a home equity loan you will need to provide:

1. Two years W-2 and one month of pay stubs if you are salaried OR two years tax returns and a YTD profit and loss statement if you are self-employed.
2. Rental agreements and two years tax returns if you own rental property.
3. A copy of the note on your first mortgage. This will normally be found in your closing loan documents.
4. A signed letter explaining what you plan to do with the proceeds.
5. A copy of divorce decree if applicable.
6. A copy of your green card (front and back) if you are NOT a US citizen, or your H-1 or L-1 visa if you are NOT a permanent resident.

2. GET QUALIFIED

Getting qualified before you apply for a loan can help you understand how much you can borrow. When buying a house, you may get pre-qualified or pre-approved. You can typically get pre-qualified over the phone or on the Internet in a few minutes. A pre-qualification is not as beneficial as a pre-approval where you have to go through a more rigorous process, which includes verification of your credit, income, assets and liabilities. It is highly recommended that you get pre-approved before you start looking for a house. This will help you:

1. Find out the maximum house you can buy, so you don’t waste time looking for properties you cannot afford.
2. Puts you in a stronger position when you are negotiating with the seller, because they know that your loan is already approved.
3. Helps you close quickly, since your loan is already approved.

3. SHOP LOAN PROGRAMS AND RATES

To shop for a loan you will need to:

• Think about how long you plan to keep the loan
  If you plan to sell the house in a few years you may want to consider an adjustable or balloon loan. On the other hand, if you plan to keep the house for a longer time, you may want to look at fixed loans.
• Understand the relationship between rates and points
  Points are considered to be prepaid interest and are tax deductible. Each point is equal to one percent of the loan. For example, 1 point on a $150,000 loan is $1,500. The more points you pay, the lower the rate you will get.