Mortgage Checklist

Applying for a Mortgage

I. Select mortgage lender

Programs differ; interview several. Your Exclusive Buyers Agent Can Help!

II. Be Prepared

Use the checklist below to help you gather necessary information before you apply.

III. Pre-qualification: Determines buying power; price range

IV. Application -- Loan Officer

Outlines your financial requirements; helps determine the right mortgage plan for
you; helps complete the application forms.

V. Processing -- Loan Processor

Your primary contact. Gathers information; works with appraisers and credit
agencies; keeps you updated on loan status.

VI. Processing -- Underwriter

Reviews all information and make a decision on your loan.
Loan approval time: 2 to 4 weeks

VII. Closing

Your Loan Processor communicates the loan decisions; tells you if additional
information is required before closing; coordinates closing with your Exclusive Buyer
Agent.

APPLICATION CHECKLIST

Be sure that you have the following information available when you apply

Social Security Number

Residence address for past two years.If you're a renter, landlord's
address/phone for past two years. If you're a homeowner, loan
number and mortgage holder for past two years.

Name, address and phone number of each employer for the past
two years.

W-2s for the past two years and pay stubs for the past 30 days.

If self-employed or commissioned, personal and business federal
tax returns (all schedules) for the past two years, a year-to-date
profit and loss statement, and balance sheet.

Bank statements (including checking, savings, money market
accounts and current loans) for the past 60 days. Be sure to
include all pages of your statements.

A copy of completed (fully executed) sales contract for the subject property.

A check for your application fees.

Evidence of additional sources of funds necessary to close the loan.

Additional documentation requested.