Getting Started

So, often, a person expends tremendous energy finding the “right home” and then the mortgage process is an afterthought. With literally hundreds of loan options available, it is important that you choose your mortgage wisely. Just like the wrong house could cost you, the wrong mortgage program could cost you tens of thousands of dollars over a 30-year period. The most important part of this process is not necessarily getting the lowest interest rate quote, but finding a mortgage program that fits your needs and goals.

Here are some things to help you get started with the process:

• Get Pre-APPROVED. All we need is a paystub, recent statement, and your personal information. Its simple and free. Actually it could cost you if you’re not Pre-APPROVED.   Click HERE if you are ready to begin the loan application process right here on our secure website.
• Gather the needed documents. The mortgage process has become quite streamlined and the days of mounds of papers is gone. See the list under Needed Items below for more details.
• Be Educated. We offer Mortgage consultations that treats you as a unique individual. Just like a Doctor prescribing a treatment, we will suggest a few different plans that appear to meet the goals you have.
• How much house? There is a big difference in what someone “qualifies for” and what they can “AFFORD”. We can tell you what you qualify for, but only you can decide what you afford. We can provide you with information and tools that help you feel comfortable with your decision.

NEEDED ITEMS

• Proof of income… We will need one full month of income documentation so be sure and bring the appropriate number of stubs. It could mean one stub, it could mean four. If self employed, ask us first. Self employment income is not difficult to calculate but it does require a few more pieces of paper. Sole proprietors, S Corps, and C Corps all require different things.
• Past income… We typically need to establish a 1 or 2 yr history and the most common method is by w-2’s. Depending on your specific loan, we will need either one or two yrs w-2’s. if self employed, we will ask for either one or two yrs signed federal tax returns for all appropriate types of self employment.
• Proof of assets… We will need to have proof of any downpayment and reserves required. The most common requirement is for one month’s deposit account statements. It will always need to be all pages of any statement. Remember, if the underwriter can’t see the page, they have no way of knowing if its blank or is of no value. So be sure and give every page. Note- Seldom will an internet printout be acceptable. Internet statements are acceptable as long as the statement has the your name AND account number on the printed pages.
• Proof of identification… In this day and time, you would WANT to prove who you are. But with the new Patriot ACT requirements, a copy of an acceptable identification is required. Drivers licenses are most popular but passports and other photo ID’s may work.
• Additional documents… Sales contracts, old settlement statements, appraisals, legal agreements (sep agreements, divorce decrees, etc) may be required. Ask us and we’ll help you determine what is needed and what is not.