Monday, August 18, 2008

Even moooooorrrreee financing

Buying a house is easy. Paying for it is hard. Or asking someone to give you money to pay for it...

On Friday morning, I talked to the mortgage broker and gave him my info...salary, current assets and debts, name of my first born, and on and on. Friday night he emailed me 15 pages of documents to sign and send back to him. Actually, I just's 24 pages. He misspelled my wife's name and our street on every page, so we had to fix that and initial each one where we had changed it. This morning I faxed it back to him. This was the application (5 pages) and the ancillary documents (19 pages).
Now for the actual documents needed. Thank god for the internet...

Last two pay stubs (thank you ADP for storing that stuff online)
Last two W-2s (ditto, thanks ADP)
Loan statements for all four properties (to prove the payment includes tax and insurance)
  • chase, flagstar bank = easy to find statements online
  • Wamu hard to find statement online
  • Morequity I found an old statement that had been sitting on my desk with only a small grease stain on it, and scanned that
Last two tax returns -- maybe just 1040 and schedule E. Maybe all 50 pages (still not sure)
Leases for all three rentals (not sure why if they have the schedule E and the loan statement)
Paystub for Aug 15 (I tried to explain that I'm paid monthly. maybe I will photoshop it)
Oh, and last two months of asset accounts at our broker Morgan Stanley (online as well)

I must say that the internet is a wonderful place that I was able to get about 80% of the documents in pdf format and email them straight over to the loan officer.

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