DO’S AND DON’TS WHEN APPLYING FOR A LOAN:
DO’s
- Copy of drivers license
- 30 days most recent paystubs
- 2 years most recent W2s/1099s
- 2 years most recent tax returns – all schedules
- 2 months most recent bank statements – all pages
DON’Ts
- Don’t change your job(s)
- Don’t get fired
- Don’t start your own business in replacement of your current job even if you will be doing the same kind of work
- Don’t buy a car, boat, motorcycle, furniture or anything of value
- Don’t pay any of your bills late
- Don’t get evicted
- Don’t change your bank account
- Don’t write any bad checks or overdraw the account
- Don’t make any unusual deposits
- Don’t get divorced
- Don’t’ get any other loans
- Don’t try to get a credit card or cause any creditors to inquire into your credit
- Don’t allow anyone else to pull your credit