Exclusive Buyer Broker  $ave Thousands  Metro DC Homes  Real Deals
Contract Fees Articles and Videos Helpful Links 
Home | About Us | Meet Our Agents | Contact Us | Directions 
MORTGAGE CHECKLIST
Homebuyer's Checklist   Mortgage Checklist

Buyer's Edge - Real Estate, Buyers Agents, Maryland, Washington DC, Virginia
Buyer's Edge
4919 Hampden Lane
Bethesda, MD 20814
Directions

301-657-1475   Phone
800-207-6810   Toll Free
301-657-4494   Fax

broker@buyersagent.com
Applying for a Mortgage
Take it One Step at a Time...

I. Select Mortgage Lender
Programs differ; interview several. Your Exclusive Buyer 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 makes a decision on your loan.
Loan Approval Time: 2 to 4 weeks
 
VII. Closing
Your Loan Processor communicates the loan decision; 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.

 

 


Return to Top  Home  Contact Exclusively Representing the Home Buyer
© 2010 Buyer's Edge