Meet needs of underwriters for great mortgages in AtlantaWhile many potential homebuyers are attracted to the idea of low interest rates, it can be difficult to get them because of stringent requirements on their credit scores, or simply not being able to provide all of the necessary information.

The amount of information that is required for a home loan has changed drastically compared to the boom years of 2004-2008. As it is now, the amount of personal data potential borrowers need to bear in order to even be considered is closer to the amount that was needed 15 to 20 years ago. In short, the typical borrower is expected to bring:

  • Previous two years of tax returns and W-2s (all pages and schedules). Tax returns may be reduced to one year for some borrowers.
  • One month of pay stubs (if paid every two weeks, underwriter would want to review two pay stubs).
  • One month of bank statements (all pages).
  • Copy of driver’s licenses for whoever is taking out the loan.
  • Name and phone number of the borrower’s insurance agent.

In addition, a homebuyer would be expected to:

  • Explain all deposits on their bank statements (besides payroll deposits).
  • Explain all inquiries that show up on their credit reports.

Don’t miss a single piece of information from this list if you want to get in the market to get a mortgage in Atlanta and buy a home this spring or summer! Contact our offices today to learn more:

Vinings location

4300 Paces Ferry Road SE, Suite 333
Atlanta, GA 30339

Alpharetta location

3480 Preston Ridge Road, Suite 390
Alpharetta, GA 30005

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