Mortgage QF Checklist Complete one simple QF and receive up to 4 real loan offers in hours. Before you begin, you may want to gather the following information to make the process even easier. Social Security Number of all borrowers. Lenders use your Social Security Number to access your credit record which contains information about your income, debts, and credit payment history. Current mailing address and number of years you’ve lived at this address. This information will be compared against your credit record to determine if your rent or mortgage payments have been made on time each month. Property type of the home you are purchasing. Lenders need to know what type of home you are purchasing because your home becomes the collateral for your mortgage, in the event that you default on the loan. Purchase price, down payment amount and amount you wish to finance. This combined information helps lenders determine the type of mortgage that may be best for your needs. Employment information. Lenders normally like to see that you have been with the same employer for a few years, or at least in the same line of work, to demonstrate career stability. Total monthly income and debt payments. Your income and debt payments illustrate your debt-to-income ratio, which is the amount of money you owe each month compared to the amount of money you make. This ratio helps lenders understand your total financial situation. Total liquid assets. Lenders are interested in the amount and value of any assets you may have to help them judge your ability to make loan payments from available cash. Even if you don’t have all of this information available right now, you can still begin the QF process. Just ask us to save your place and you can pick up exactly where you left off.

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