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Understanding the Mortgage
Loan
Process
Purchasing
a Home
Importance
of a Credit
Pre-Approval
Understanding
Credit Reports
Economic
Indicators that Affect
Interest Rates
Top
10 Reasons a Loan Falls
Through
Refinance
a Loan



Items
needed to apply:
You may
be asked for "some" or "all" of the following documentation
during the application process. When applying over the phone or online, you
will be asked by a loan officer to either fax or mail these documents. Many
times we need only "some" of this information.
Income
Verification:
|
|
Pay Stubs for the last 30 days |
|
|
W-2 forms for the last two years |
|
|
Child support/alimony, friend of the court or 12 months |
| canceled checks (see Note on Page 2) | |
|
|
1099 disability income, award letters for Social Security |
| or Retirement | |
|
|
Tax returns may be required when income is derived |
| from rental income, interest, commission or sources of | |
| income other than salary |
Sources
of Funds/Down Payment:
|
|
Bank statements for the last 3 months--including |
| checking, savings and investment accounts | |
|
|
Stock and Securities account statements for the last |
| 3 months | |
|
|
Sale of assets - proof of ownership, proof of sale and |
| proof of the transfer of funds | |
|
|
Gift Funds - gift letter, evidence of transfer and |
| possible evidence of withdrawal | |
|
|
HUD Settlement Statement (if using funds from the |
| sale of property) |
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- Understanding the Mortgage Loan Process 1-2-3
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