Relax, take your time and let the experts at Buyer's Edge guide you through the process.
Select mortgage lender
Programs differ; interview several. Your Exclusive Buyers Agent Can Help!
Use the checklist below to help you gather necessary information before you apply.
Determines buying power; price range.
Application -- Loan Officer
Outlines your financial requirements; helps determine the right mortgage plan for you; helps complete the application forms.
Processing -- Loan Processor
Your primary contact. Gathers information; works with appraisers and credit agencies; keeps you updated on loan status.
Processing -- Underwriter
Reviews all information and make a decision on your loan. Loan approval time: 2 to 4 weeks.
Your Loan Processor communicates the loan decisions; tells you if additional information is required before closing; coordinates closing with your Exclusive Buyer Agent.
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.