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Mortgage Documents

Mortgage Application

The mortgage pre-qualification process starts once we conduct our client interview.. this is typically a 10-15 minute conversation where we discuss your short and long term financial goals. We will require standard information (listed below) in order to process a credit verification and potential refinance or purchase options. Once we’ve gathered all the preliminary information we need, we will run a credit report.. and call you to review the best programs/products available to fit your needs.

The mortgage process begins when you fill out the application, sign various forms that authorize the lender to process your loan, and deliver your documentation requirements. The mortgage documents you will receive to review and sign, will discuss the terms/agreement of your new loan, as well as authorize the lender to process your loan. Any delays in returning the documents required, will also delay the process of the loan.. so please send all required documents back into our company fully completed and as soon as possible. You should understand that our process cannot begin until these documents are completed and or received.

When all of your documentation is received, it then goes to a processor who verifies and validates all of the information to be true and correct. Verification requests may be sent to your employers, mortgage holder/landlord and lending institutions. This is done by fax when possible. Delays can occur when the contacted third parties do not respond to verification requests.

Below is a list of standard documents that are required to be included in your loan file for underwriting to review. Please understand, there may be additional documents required, depending on the loan type and other factors that may come into play.

 

INITIAL MORTGAGE PRE-QUALIFICATION CONVERSATION

Please have all information available when calling in

  • BORROWER AND CO-BORROWER:
  • NAME
  • DATE OF BIRTH
  • CURRENT ADDRESS
  • PREVIOUS ADDRESS (IF LESS THAN 2 YEARS AT CURRENT RESIDENCE)
  • SOCIAL SECURITY NUMBER
  • PHONE # / EMAIL CONTACT INFORMATION
  • CURRENT EMPLOYER
  • PREVIOUS EMPLOYER (IF LESS THAN 2 YEARS AT CURRENT EMPLOYER)
  • DATES OF EMPLOYMENT AND POSITION
  • INCOME (HOURLY, SALARY, ETC.)
  • TAX RETURNS (IF SELF-EMPLOYED)
  • DEBT OBLIGATIONS (INCLUDING CHILD SUPPORT AND/OR ALIMONY)
  • CURRENT MORTGAGE SERVICER, BALANCE, RATE, PAYMENT, AND FULL PAYMENT BREAKDOWN
  • CURRENT 2ND MORTGAGE / HELOC SERVICER, BALANCE, RATE, AND PAYMENT (*IF APPLICABLE)
  • CURRENT PROPERTY TAX AND HOMEOWNER INSURANCE PREMIUMS
  • ANY PREVIOUS BANKRUPTCY, FORECLOSURE, OR SHORTSALE INFORMATION
  • IF YOU CURRENTLY OWN OTHER REAL ESTATE (INCLUDING 2ND HOMES OR INVESTMENT PROPERTIES), WE WILL NEED PURCHASE DATE, CURRENT SERVICER, BALANCE, RATE, PAYMENT, AND TAX/INSURANCE INFORMATION AS WELL

(*WE MAY ALSO NEED INFORMATION ON YOUR TAX RETURNS (REGARDING INCOME/LOSS REPORTED, ETC))

DOCUMENT CHECKLIST FOR YOUR MORTGAGE APPLICATION

PLEASE HAVE COPIES OF THE FOLLOWING DOCUMENTS READY FOR YOUR MORTGAGE APPLICATION
**IN ORDER FOR US TO EFFICIENTLY PROCESS YOUR APPLICATION IN A TIMELY MANNER,
WE NEED ALL OF THE FOLLOWING DOCUMENTS.

REFINANCE: (IN ADDITION TO OTHER DOCUMENTS THAT MAY BE REQUIRED)

  • 30 DAYS MOST RECENT CONSECUTIVE PAY STUBS
  • PREVIOUS YEAR / CURRENT YEAR W-2 OR 1099
  • PREVIOUS YEAR / CURRENT YEAR FEDERAL TAX RETURNS (W/ ALL SCHEDULES, INCLUDING K-1’S)
  • MORTGAGE STATEMENT(S) / COUPONS(S)
  • MORTGAGE “NOTE” (from closing package.. typically 1-3 pages long)
  • 60 DAYS MOST RECENT ASSET STATEMENTS (BANK, 401K, STOCK, ETC.) *ALL PAGES
  • COPY OF LEASE AGREEMENTS FOR INVESTMENT PROPERTIES (IF APPLICABLE)
  • HOMEOWNERS INSURANCE and PROPERTY TAX STATEMENTS (all properties)
  • DIVORCE DECREE, BANKRUPTCY PAPERS (if applicable)
  • LAND SURVEY (from closing package)
  • COPY OF DRIVER’S LICENSE

SELF-EMPLOYED: (IN ADDITION TO OTHER DOCUMENTS THAT MAY BE REQUIRED)

  • NAME AND PHONE NUMBER OF CPA (IF APPLICABLE)
  • DOCUMENTATION OF PROOF OF SELF-EMPLOYMENT MINIMUM OF 2 YEARS
  • COPY OF BUSINESS LICENSE
  • 30 DAYS MOST RECENT CONSECUTIVE PAY STUBS (IF SALARY IS PAID THROUGH COMPANY)
  • YTD PROFIT / LOSS (IF APPLICABLE)
  • PREVIOUS YEAR / CURRENT YEAR W-2 OR 1099 (IF SALARY IS PAID THROUGH COMPANY)
  • PREVIOUS YEAR / CURRENT YEAR FEDERAL TAX RETURNS (W/ ALL SCHEDULES, INCLUDING K-1’S)
  • MORTGAGE STATEMENT(S) / COUPONS(S)
  • MORTGAGE “NOTE” (from closing package.. typically 1-3 pages long)
  • 60 DAYS MOST RECENT ASSET STATEMENTS (BANK, 401K, STOCK, ETC.) *ALL PAGES
  • COPY OF LEASE AGREEMENTS FOR INVESTMENT PROPERTIES (IF APPLICABLE)
  • HOMEOWNERS INSURANCE and PROPERTY TAX STATEMENTS (all properties)
  • DIVORCE DECREE, BANKRUPTCY PAPERS (if applicable)
  • LAND SURVEY (from closing package)
  • COPY OF DRIVER’S LICENSE

PURCHASE: (IN ADDITION TO OTHER DOCUMENTS THAT MAY BE REQUIRED)

  • COPY OF EARNEST MONEY DEPOSIT (CHECK AND BANK STATEMENT SHOWING CLEARED ACCOUNT)
  • SIGNED PURCHASE AGREEMENT BY BOTH PARTIES (W/ ALL DISCLOSURES)
  • LISTING AND BUYER AGENTS NAME AND PHONE NUMBERS / OR SELLER
  • 30 DAYS MOST RECENT CONSECUTIVE PAY STUBS
  • PREVIOUS YEAR / CURRENT YEAR W-2 OR 1099
  • PREVIOUS YEAR / CURRENT YEAR FEDERAL TAX RETURNS (W/ ALL SCHEDULES, INCLUDING K-1’S)
  • MORTGAGE STATEMENT(S) / COUPONS(S)
  • MORTGAGE “NOTE” (from closing package.. typically 1-3 pages long)
  • 60 DAYS MOST RECENT ASSET STATEMENTS (BANK, 401K, STOCK, ETC.) *ALL PAGES
  • COPY OF LEASE AGREEMENTS FOR INVESTMENT PROPERTIES (IF APPLICABLE)
  • GIFT LETTER (IF APPLICABLE)
  • HOMEOWNERS INSURANCE and PROPERTY TAX STATEMENTS (all properties)
  • DIVORCE DECREE, BANKRUPTCY PAPERS (if applicable)
  • LAND SURVEY (IF APPLICABLE)
  • TERMITE INSPECTION (IF APPLICABLE)
  • WELL/SEPTIC INSPECTION (IF APPLICABLE
  • COPY OF DRIVER’S LICENSE

If you have any questions or concerns in regards to what may be required with your refinance or home buying process, please give me a call today!