Help with how to make a good first impression with lenders?

Question

I'm plan on beginning my search for pre-approval of my second loan. I'm going to shop around some lenders to see what options I've got and I was planning on putting together an easy to look through little binder that contains all my W2, pay stubs, and paper work that is commonly asked for. What would you recommend I should include that could make it easy for a lender and help me make my best impression? Also, would including a printed credit karma report help in any way?

Thanks for any input, it will greatly help me!

Kevin Hintz · Answer

Thank you both for your replies, I've but together all the required paperwork and I'm ready to start my hunt now. I appreciate the feedback and you also probably saved me the embarrassment of throwing unnecessary paperwork into my binder!

Jorel Williams · Answer

Hi Kevin,

Providing essentially the same information that you would when you purchased your 1st property would suffice + a couple documents on your current residence (W2, ID, 1 month of paystubs, 2 months bank statements, Homeowner's Insurance, Recent Mortgage Statement).

And they need to impress you with their pricing and service not the other way around. For you, it is just a matter of qualifying, for them it is a matter of them not gouging you with junk fees and points.

Best of luck to you Kevin.

(you do not need your credit karma report, once you have the right lender they will run your credit for you)

Dillon Dale · Answer

@Kevin Hintz they'll mostly want to see proof of w2 income and low dti, which they'll obtain from pulling your credit. A good presentation will only make a difference if you're on the fringe of being able to qualify, and even then would likely not make a difference