Here is a quick overview of the mortgage
process:
Start to Finish
Step 1 - Fill out loan application
Step 2 - Supply all requested information
Step 3 - Credit report issued
Step 4 - Underwriter review
Step 5 - Receive loan decision
Step 6 - If approved, close on your loan! It's
THAT EASY!
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What you'll need to apply for credit approval:
- A completed mortgage application.
- W-2 tax reports for the last two years and your latest-month pay stubs. If you are self-employed, you need the last two years' tax returns and the most recent profit and loss statement and partnership documentation.
- Cash to close the transaction: 3 months' bank statements, stock statements or other acceptable information verifying funds to close. A percentage of the proceeds from the sale of your current home may also be used as closing funds. Note: Closing funds may not be borrowed.
- Your authorization to review your credit report plus any required application fee. Lender will verify your income, debts and assets as required by the investor that will purchase your loan.
- Lender reserves the right to reject any loan and request additional information.
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