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<blockquote data-quote="Kai Winters" data-source="post: 2944452" data-attributes="member: 574994">3K is no big deal.You will need your 1040&#039;s to show overall income as well as current pay stubs.Make a list of any loans, credit cards, etc. that you may owe. Include college loans if any. List the name of the company, account number and balance.The bank/mortgage company will do a credit check anyway but you can add this to the mortgage application.I strongly suggest you stay away from an ARM (Adjustable Rate Mortgage) if one is offered. They are just not worth it especially with the housing market being in a state of flux right now.Generally if you look around a bit you can get a mortgage with no points or closing costs but those are usually written into the mortgage anyway...nothing is free hehehe.Try Churchill Mortgage. I have heard some good things about this company. They have a good reputation. Stay away from Ditech...they have a horrible rep.The biggest thing mortgage companies look for is the mortgage to wage ratio. If the mortgage is 50% of your income you are not going to afford the house considering the costs of home ownership...insurance, taxes, maintenance, etc.Good luck and keep us informed.</blockquote>

[QUOTE="Kai Winters, post: 2944452, member: 574994"] 3K is no big deal. You will need your 1040's to show overall income as well as current pay stubs. Make a list of any loans, credit cards, etc. that you may owe. Include college loans if any. List the name of the company, account number and balance. The bank/mortgage company will do a credit check anyway but you can add this to the mortgage application. I strongly suggest you stay away from an ARM (Adjustable Rate Mortgage) if one is offered. They are just not worth it especially with the housing market being in a state of flux right now. Generally if you look around a bit you can get a mortgage with no points or closing costs but those are usually written into the mortgage anyway...nothing is free hehehe. Try Churchill Mortgage. I have heard some good things about this company. They have a good reputation. Stay away from Ditech...they have a horrible rep. The biggest thing mortgage companies look for is the mortgage to wage ratio. If the mortgage is 50% of your income you are not going to afford the house considering the costs of home ownership...insurance, taxes, maintenance, etc. Good luck and keep us informed. [/QUOTE]

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