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HOW IT WORKS – IN ORDER

HOW IT WORKS – IN ORDER

 

  • You return the signed APPLICATION KIT and the following items right away via fax or email

 

  1. Name and contact information for your real estate agent ( Purchase Only )
  2. Copy of valid driver’s license and Social Security Card
  3. Copy of your most recent pay stub(s) reflecting at least 30 days of income and year-to-date income ( applicable borrower )
  4. Copy of your W2 forms for last 2 years (applicable borrowers)
  5. Copy of your federal tax returns for last 2 years with all schedules
  6. Copies of your most recent award letters or income statements for all other income ( applicable borrowers )
  7. Copy of your last two months bank statements for all asset accounts including checking, savings, stocks, bonds, retirement savings accounts, etc. ( all pages even blank pages if page numbers are indicated )
  8. Copy of lease agreements for the rental property properties ( if applicable )
  9. Copy of your homeowner’s insurance policy declarations page for the subject property or insurance name, policy#, phone

( If subject property has HOA, HOA’s contact name, phone number and/or e mail ) – For Re-Finance Only

  1. Copy of the recentmortgage statement from all properties – For Re-Finance and/or if you own any investment properties
  2. Copy of business license or Letter from CPA confirming self employment for at least two years ( For Self-Emp. )
  3. Copy of the bankruptcy discharge papers and the list of creditors in the bankruptcy ( if applicable )
  4. Contact information for your CPA. ( Self-Emp. Only )

 

  • You will get disclosures and Loan Estimate from Lender.
  • Your loan is forwarded to processor for packaging.
  • Escrow will provide estimated fees for your loan.
  • You or your realtor will hear from an appraiser to schedule an appraisal.
  • HOA will be contacted for HOA Cert. and/or condo docs. ( if applicable )
  • You will hear from me only if I need anything else from you.  Please respond promptly to any request.
  • Your loan will be submitted to underwriting dept. for approval.
  • Once final approve is in, I will contact you to notify and/or I need additional items.
  • You need to decide on Rate Lock.
  • Lender will send your loan documents to your escrow company.
  • You will go to your escrow company and sign loan
  • After review of all documents, lender will fund your loan and title will record your file.
  • The home is now yours.  Congratulations!

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