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How to Understand Real Estate Underwriting

Realty Biz

You'll need to provide documents such as: Valid ID and Social Security number Recent pay stubs W-2 or I-9 forms from the past two years Federal tax returns Recent bank statements Details on long-term debts like car or student loans Your loan officer, mortgage broker, or home lending advisor sends this information to the underwriter.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

To avoid a closing delay or, even worse, the sale falling through, it’s essential to be upfront and honest with your loan officer. Give your loan officer full disclosure from the start – tell us everything. Any changes to employment status could force the lender to decline the loan even at this point.”.

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25 Nightmare Scenarios That Can Disrupt Closing (And How to Avoid Them)

HomeLight

This can radically alter their debt-to-income ratio and jeopardize the whole deal. If you can’t secure new employment swiftly, you might be able to add a cosigner to your loan and count that person’s income toward your purchase. Talk to your agent and loan officer about these options.

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