Are you ready to buy your dream house in Chicago's North Shore? Are you familiar with all of the information you will need to provide? The lender will ask you to complete a loan application, which will require a great deal of personal and financial information. First time buyers will definitely need to brush up on everything that is expected of them, and even seasoned buyers could use a refresher so that there are no surprises.

1) Your residence history
• Your previous addresses for the past two years
• The length of time you’ve lived at each address
• If you currently rent, your landlord’s name and addresses (for past 12 months)

2) Your employment history
• The names and addresses of all your employers for the past two years
• The dates you worked at each place of employment
• If there have been any gaps in your employment, explain why

3) All outstanding loans and credit cards
• The creditor’s name(s) and address(es)
• Your account number(s)
• The current total balance you owe and the months left to pay
• The amount of the monthly payment

4) Savings, checking or investment accounts
• The names and addresses for each financial institution
• Your account numbers • The current balance or value

5) Real estate you currently own
• The property address(es)
• The estimated market value
• The outstanding loan balance
• The amount of your monthly payment (including taxes, insurance, homeowner’s association dues)
• The amount of your rental income (if applicable)

6) Personal property you own                                                                                                                                                                                                                                                                                                    • The net cash value of your life insurance
 • The make, year and value of your automobile(s)
 • The value of your furniture, jewelry and other personal property

Without the right help from an experienced real estate agent, you can become overwhelmed quickly. Contact me today to see how I can help you prepare to buy your new home!

 

 

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