In our efforts to provide quality customer service some of our lenders for whom we do mortgages have created a streamlined process for underwriting and approving applications. This process does not apply to ALL applicants or ALL our lenders but, whenever possible, we utilize this system. If borrowers have excellent credit, are not self-employed, etc. we need only the following items:

INCOME - Pay stubs for one full month (5 stubs if paid weekly, 3 if paid bi-weekly)

BANK, STOCK, BOND INFORMATION - Most recent statement for one month

CREDIT, REFERENCES, OTHER REAL ESTATE, MISC. - As shown below

INCOME:

• Two years of employment must be verified for each applicant
• Name, address, phone number and dates for all employment for the past (2) years
• Gross monthly income-indicate separately any overtime, commissions or bonuses
• Two (2) most recent W-2's and two(2) most recent pay stubs (must cover at least one month)
• If self employed, or income is from commissions-signed copies of complete Federal Income Tax returns for the past two (2) years
• If self employed, a current balance sheet and profit and loss statement
• Documentation for any other income as indicated by tad returns, decrees or agreements

BANK REFERENCES:

• Three (3) months’ most recent statements for all accounts (all pages)

STOCKS AND BONDS:

• Copies off all stock certificates, or three (3) months’ statements (all pages)

CREDIT REFERENCES:

• Loans and credit cards-bank name, account number, minimum monthly payment
• If rented-copies of leases
• If being sold-copy of listing or sales contract

OTHER REAL ESTATE OWNED:

• Property address, market value, taxes, insurance, mortgage balance, monthly payment
• If rented-copies of leases
• If being sold-copy of listing or sales contract

MISCELLANEOUS DOCUMENTS:

• If purchase-copy of sales agreement and legal description of property
• If refinance-copy of deed, tax receipts and homeowners insurance policy
• If new construction-sales agreement or deed for lot, construction agreement, plans & specifications

FEES:

• Non-refundable appraisal fee of $250.00 (payable to appraiser) collected at application
  

Do you need help knowing how much you can afford to spend for a property, or knowing what the monthly payments would be? Please click here to visit our financing calculators page.

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