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First Bank

QUALIFICATIONS! Cant banks see the big picture?

Thursday, December 27, 2012 - Article by: First Bank - First National Bank Southwest - Message

WHAT IS IT GOING TO TAKE TO QUALIFY FOR A LOAN?

The federal government wants a two year window of everything financial you have done in order to qualify for a loan now a days. No more stating the obvious, now you have to prove it.

Taxes, W2's, Paystubs, Bank Statements, Assets Residential & Employment History, its all there. A litmus test if you will on paying back a mortgage. Be realistic and honest and your journey through financing just got shorter. The Fed's just want it all, staying compliant don't you know. So the next time you get a little antsy about applying for a loan do your homework, not every company associated with real estate is a like. Listen to your friends, family, and neighbors, the most important compliment any one can receive is to be referred by someone who has had success.

Save everything you can, you are going to need it. Understand that you had it all along.

Happy Hunting!

Cheers.

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