Staying in the Black
Stay in the Black is dedicated helping teachers get their money straight and live their fullest life on a public servant salary Are you a teacher living check to check? Are you worried about your student loans? Can you afford to purchase a home? Can you afford to have children or send them to college? In this podcast we will cover pensions, student loans, side hustles and ways to maximize and expand your finances. We will also cover budgets, saving, credit and more! You will find information, interviews, book reviews and you will leave with action steps to help you Stay in the Black, for more go to stayingintheblk.com
Staying in the Black
How to Shop for a Mortgage?
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Ms. Black
Federal Trade Commission Shopping for a Mortgage FAQs
Url: https://consumer.ftc.gov/articles/shopping-mortgage-faqs
The following documents are essential when shopping for a mortgage:
- Bank statements from the last three months show your monthly income and ability to make a down payment and subsequent mortgage payments.
- Pay stubs from your employer demonstrate consistent income sufficient to pay a mortgage.
- Personal identification, such as a driver’s license or passport.
- Your two most recent W-2 forms or tax returns to demonstrate financial stability.
- Investment account statements to give a fuller picture of your financial strength.
- Documents showing your monthly debt payments, such as statements about your auto loan or student loan payments. These are essential for determining your debt-to-income ratio (DTI), a metric lenders use to determine your capacity to take on additional debt.
- A gift letter if a friend or family member is helping you with the mortgage or down payment.