My mother got contact information for a lender from a real estate agent she has worked with before. The agent said she could call him and see how much of a loan she qualified for. The real estate agent knows that I am going to contact him too, but how do you approach them? What information will I need to give him in order to get the quote?
They will have a series of questions for you. Its normal credit application stuff. Google 1003 loan application. That has the questions they will ask. In addition, you often have to provide a whole stack of paperwork. In particular, pay stubs and bank statements. Often other papers, but details will depend on your personal situation. Don't over think this. Just call and talk to them. They can give you a list of what you want and you can get back to them with it.
A Basic list would look like this:
- 2 Years of Tax returns
- 2-4 Pay Stubs
- Proof of current employment
- An Idea of your Credit score
- Length of time with current employer
- 2-6 months of bank statements
This is not an all inclusive list but will give them a good idea of where you stand.
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