Whether or not you decide to go with your builder's lender or an outside lender, you will need to work with the lender to get pre-approved and provide a Pre-Approval Letter, Good Faith Estimate of Settlement, and Federal Truth in Lending Statement to the builder.
The lender will request the following information from you to start the process.
1 months paystubs
2 months bank/asset statements (all pages)
2 years tax returns (all pages)
2 years W-2s
Copy of your drivers license & social security card
Name/number of the insurance agent you want to use for home owners insurance (can be provided later)
The lender will request the following information from you to start the process.
1 months paystubs
2 months bank/asset statements (all pages)
2 years tax returns (all pages)
2 years W-2s
Copy of your drivers license & social security card
Name/number of the insurance agent you want to use for home owners insurance (can be provided later)
These documents and your credit report will help determine how much you can borrow. I recommend a 20% down payment to avoid having to pay private mortgage insurance monthly.
I would love to lock in the rate today but will not be able to do so until 30 days prior to closing.
