Normally just proof of id, possibly an earnings statement. An estimate of how much the house will cost wouldn't hurt but I don't think it's necessary.What information do you need to bring w/you to the bank to get a loan for building a new house??
Why are you using a bank instead of a mortgage professional? :-)
A rule of thumb is 2 years w2s, 2 months bank statements and 1 month of paystubs, insurance company name and phone number, check book to pay for upfront fee such as the appraisal.
YET, it totally depends on your goals for the home and your current financial situation. How long do you plan on staying in it? How much debt do you have in comparison to your income? Are you able to put money down on the property to be built? Contact my company if you'd like to discuss this further--free and no obligation.What information do you need to bring w/you to the bank to get a loan for building a new house??
I would definantally go to a mortgage professional rather than a bank. banks can not do nearly as much as a mortgage professional can. A mortgage broker can ';create'; a loan based on your financial needs. Why pay more and go to a bank, when there is greater flexibility with a broker? My advise would be to ';shop around';, call your bank... then call a mortgage broker. See who will give you the most for ';YOUR needs'; rather then ';their needs';
--Make sure that you compare the good faith estimate rather than word of mouth, this may require them to pull your credit.
--make sure that you get your credit pulled only once if possible, they will need a signature authorization to do so. Ask what your FICO score is. This is usually your mid credit score.
--When calling around to get pricing tell them what your FICO score is, they will want to know where the source was from and let them know that you are calling around to get pricing and you had your credit pulled by a mortgage professional. This will prevent ';questioning'; of a reliable source.
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