I just wanted to pass along a little strategy that I used this go round for those who are considering the mortgage loan soon to think about. Now in my case I am not complicated other than my employment, Great credit history, 8percent dti so i worried about employment because 2 year history could mean alot of things essentially I left my career for 8 months but went back and have 10 years total time in my career. But anyway just some common things to think about when going to underwriting. Most likely they will ask for these updated documents so I just feel its best to keep sending them the latest and greatest.
-BANK STATEMENTS: I just kept pumping them to the bank as they came in. The second i got the ding in my email saying my statement was ready I would forward them right to the lender
-Pay stubs: Same goes for these. The minute they hit my email I was sending them over. They are going to ask for them anyway.
LOE- Become the master of the LOE. And by this comb through your statements and look at something that may look out of the ordinary to the UW. Write a LOE so that when your asked you can just provide it and if your not asked then its no harm no foul. Make yourself look proactive and show them that you have done research and really want the loan. What I did was before even contacting a lender I wrote LOE’s for my employment gaps last year and just anticipated what they would ask me to explain. I was amazed at how many things i nipped before they were asked for.