Borrower Mortgage
Checklist – For Full Documentation Loans
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| If you are applying for a fully documented
mortgage loan, you can use the following checklist to help you get a head start
on the process. We recommend that you begin organizing the following
information in preparation for your transaction. |
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Here is a partial list
of what we may need to process your home loan:
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Completed Uniform Residential
Loan Application. This can be done over the telephone, online, or by mail. We
will send it to you to review and sign upon completion. |
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Copy of your most recent pay
stubs showing past 30 days worth of pay. |
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If you are self-employed or a
commissioned employee, most investors will want to see the last two years of
your tax returns. |
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If you have ownership interest
in a Corporation or Partnership exceeding 25%, investors may require your
business tax returns for the past two years - including a profit and loss
statement and a corporate balance sheet. |
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One to two months of bank
statement (ALL PAGES – even the ones that say “this page is intentionally left
blank”) |
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Brokerage account and retirement
account statements - if being used to qualify (ALL PAGES – even the ones that
say “this page is intentionally left blank”). |
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Copy of the Purchase and Sales
Contract - if you are conducting a purchase transaction. The contract must be
signed by all parties. |
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The contact information for your
insurance company and your settlement agent (attorney or title company). |
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If you are part of a homeowners
association, we will need the contact information of the person in charge of
the HOA. Many lenders require that we have a condo questionnaire completed and
that we verify that there is liability coverage in place over the common areas. |
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A current mortgage statement is
helpful for refinance transactions. |
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If you want to subordinate your
current second mortgage, we are going to need a copy of the note for the second
loan. You will also need to ask your current lender to send us a copy of their
subordination requirements. |
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| We want to help make the mortgage process as
simple as possible and following this mortgage checklist will get the ball
rolling in the right direction. We seek to deliver peace of mind with every
transaction and serve our customers well 100% of the time. Give us a call at
877-RATE-LOW (877-728-3569) to see how we can help you obtain one of the best
current mortgage rates on your next mortgage transaction. |
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| If you are looking for a stated income home loan
or a no doc mortgage, simply give us a call and your loan advisor can walk you
through the application process. |