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It is vital that you are well informed of the loan process that is ahead of you. Use our
checklist to get a head start. Begin to organize the necessary documents for a quick and smooth loan process.
The more information that you
prepare in advance - the more smoothly your loan
application can be processed for approval.
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Here's a list of items needed to process your loan:
• Completed Uniform Residential Loan Application and Disclosures
• Income information that can be verified using the following:
• Full month (30 days) current pay stubs
• Personal tax returns & W-2s for the past two years
• If self-employed: Current Profit and Loss and balance sheet statements
• If Ownership in a Corporation or Partnership of 25% or more: 2 years tax returns with
all schedules, current Profit & Loss and balance sheet
• Social Security, Pension or Disability papers
• Asset information that can be verified using the following:
• Two months bank statements on all bank and brokerage accounts
• Stock and retirement statements
• Copy of investment accounts - 401k, IRA, stocks, bonds etc.
• Gift letter (if applicable)
This additional information will be helpful in expediting your loan:
• Copy of bankruptcy filing and discharge (if within last 7 years)
• Copy of divorce or separation agreement - If receiving
child support proof that it will
continue for next 3 years.
• Letter of explanation for any late payments, bankruptcies,
judgments or payroll deductions
• Names, addresses, account numbers, balances and monthly
payments for all revolving and
installment debts. (Credit Cards etc.)
For Purchases:
• Copy of sales contract
• Copy of deed
• Copy of any leases
• Copy of survey
For Refinances: copy of homeowners insurance policy, deed, survey,
current mortgage statement and Title Abstract.
Are You Looking To Build?
Here's some additional information needed on your new home:
• Set of house plans and cost breakdown
• Original construction contract, signed by all borrowers and contractor
• Contractor references
• Copy of settlement statement and title work from your lot purchase
Our job is to make this process as easy as possible for you. Call anytime you like.
Expert Mortgage Professionals are available to assist you with all of your mortgage needs.
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Serving
All of New York State |
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