How it works

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How it works

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

1. Name and contact information for your real estate agent
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 W-2 forms for last 2 years (applicable borrowers)
5. Copy of your federal tax returns for last 2 years- all schedules pages 1, 2, and schedule E ( applicable borrowers )
( Please do not forget to sign page 2 of the tax return )
6. Copies of your most recent award letters or income statements for all other income source. ( applicable borrowers )
7. Copy of your last two months bank statements for all asset accounts including checking, savings, stocks, bonds, retirement savings accounts, etc. ( underwriter requires all pages of statement )
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 No.
( If subject property has HOA, HOA’s contact name, phone number and/or e mail ) – For Re-Finance Only
10. Copy of the recent mortgage statement from all properties – For Re-Finance and/or if you own any investment properties
11. Copy of business license or Letter from CPA confirming self employment for at least two years ( For Self-Emp. )
12. Copy of the bankruptcy discharge papers and the list of creditors in the bankruptcy ( if applicable )
13. Contact information for your CPA. ( Self-Emp. Only )

• You will get disclosures and GFE from Lender and/or Escrow.
• 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.
• I will send your loan documents to your escrow company.
• You will go to your escrow company and sign loan documents.
• After review of all documents, lender will fund your loan and title will record your file.
• The home is now yours. Congratulations!

FEES YOU NEED TO PAY

• Up front and/or during process

1) Credit Report
2) Appraisal Report
3) Home Inspection Report ( optional )
4) HOA documents ( if applicable )

• Paid at closing

1) Escrow Fees
2) Title Fees
3) Loan Fees
4) Home Insurance
5) Tax reserves & Fees for county and city
6) All other charges including notary, messenger, etc.