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ACHIEVE YOUR HOME BUYING DREAMS

YOUR HOME, YOUR WAY

We are excited and honored that you have chosen us to help you along your home buying journey. Please keep in mind that we are at the beginning of the mortgage process and we will be asking for other certain documentation to help you get into your new home.

Note that my team will be working with you hand-in-hand throughout the process. From day one you will be connecting with me as well as my Production Assistant. Once the contract is in place, they will play a vital role in moving everything through the system to get you to the closing table. We are here to guide you at every step and will be in constant communication to ensure your experience goes as smoothly as possible.

Our goal is to get you a loan that works for you, while providing outstanding customer service. If at any time you feel that you are not receiving either one of these, please contact me directly.

This is an exciting time and we hope you enjoy the process! Thank you for choosing us and we hope you are as excited as we are about getting started on your purchase of a new home!

ENJOY A SMOOTH, SIMPLE & EASY LOAN PROCESS

Below is a preliminary list of items that we will need. You can send them to us via email, fax, or hold on to them until you have a contract on a new home (though the sooner the better!).

Clear copy of 2 forms of ID – one must be picture ID

60 days of your most recent bank statement for all accounts—must have all pages even if they are blank

Avoid any deposits, such as cash, that can’t be sourced—call me so I can show you how to properly document a non-payroll related deposit

30 days of your most recent paystubs for all jobs

W2’s for all jobs worked in the last two years

Signed tax returns for the last two years

Current 401(k) statement

Contact information for your landlord to verify last 12 months’ payment history

Additional documents may be requested in the Welcome Letter in your loan package.

•Note that your funds for closing are required to be a wire transaction.

•Please contact me before receiving any Gift Funds from anyone so these funds can be properly documented.

•Be aware that you will need Home Owner’s Insurance. We will provide you with recommended insurance agents that we have worked with in the past and are confident that they offer great customer service.

THE LOAN PROCESS

WHAT TO EXPECT WHEN FINANCING A HOME

PREAPPROVAL 1

Once the Loan Officer has gathered information about your income, assets and debts, they can determine how much you may be able to pay and preapprove you for a budget range. WITH A PREAPPROVAL ALREADY COMPLETE, LET’S MOVE TO THE NEXT STEP!

APPLICATION 2

With the aid of a mortgage professional, the borrower completes an application and provides all required documentation.

CREDIT REPORT 3

As part of your application process, we will pull your credit report and help you understand how it can affect your qualifications for a certain mortgage. That way, you can take steps to correct any credit-related negatives from your application.

PROCESSING

Once the application has been submitted, the Processor orders the title report. The information on the application, such as bank deposits and payment history, are then verified. Any derogatory credit items may require a written explanation which will be explained to you at that time.

APPRAISAL

After the application submission, the Processor will order the appraisal. An appraiser will go out to the property and interpret the value of the home based on the current market value and condition of the home.

Once the Processor has put together a complete package with all documentation, the file is sent to the Underwriter. The Underwriter is responsible for determining whether the package is deemed an acceptable loan. After the point of loan approval, the borrower may be contacted to supply more information and/ or documentation to issue a final loan commitment.

CLOSING 7

Once the loan is approved and cleared, the file is transferred to the closing and funding department. The funding department notifies the lender and closing attorney of the approval and verifies broker and closing fees. The closing attorney then schedules a time for the borrower to sign the loan documentation.

You’ve Successfully Purchased A New Home And Can Move In. CONGRATULATIONS!

THE DO’S & DON’TS OF BUYING A HOME

As you search for a new home, keep these points in mind to help streamline the process and avoid bumps that could delay or cancel the closing:

DO

•Send all documents to me as soon as possible.

•Inform me of any time you may be out of town during the loan process.

•Continue making your mortgage or rent payments.

•Keep living at your current residence.

•Stay current on all existing bank accounts.

•Keep working at your current employer or contact me if you must make any employment changes.

•Continue to use your credit cards as normal.

•Contact me prior to receiving any Gift Funds from anyone so these funds can be properly documented.

DON’T

•Shred or throw away any documentation during the process (i.e. paystubs, bank statements, etc.).

•Make a major purchase (car, boat, jewelry, furniture etc.).

•Apply for new credit (even if you seem preapproved), open a new credit card, or close any credit cards.

•Max out or over charge on your credit card accounts or consolidate credit card debt.

•Pay off any loans or credit cards without discussing it with us first.

•Transfer balances from one account to another.

•Change bank accounts.

•Change your insurance company.

•Start any major home improvement projects.

•Finance any elective medical procedure.

•Open a new cellular phone account.

•Make any large deposits.

I’m here to help you, so if you have any questions or if you are unsure about something that may affect your closing, please don’t hesitate to reach out!