• Current pay stubs, dated within 30 days of loan submission
• All W-2 forms for the past 2 years
• Last 2 years tax returns for personal and businesses (all pages / schedules)
• Most current 2 months bank statements (all pages)
• Most current statement for all investment or retirement accounts (all pages)
• Picture ID
• Social security card or a second form of ID
• All pages of bankruptcy and copy of discharge (if applicable)
• All pages of divorce decree/separation and or child support agreement (if applicable)
• DD214 (VA loans only)
• Itemization of construction costs, copy of floor plans & cash sale for lot (construction loans only)
The Loan Estimate is generated when you are ready to make an offer. Upon reciept of your accepted offer, a loan package is generated for your signature.
Our processor verifies your dates of employment (current and previous), rental history (if applicable), orders a flood certificate, orders tax transcripts, opens title work and orders appraisal (if applicable). After all of these items have been completed, your loan will be sent to the underwriter for initial loan approval.
Submitted to Underwriting
The loan package is sent to the investor and an underwriter will be assigned for review. This process takes a few days. As soon as we have initial loan decision, you will be notified. We will work together to ensure that the underwriter's conditions have been met.
Clear to Close and Closing process
The Underwriter will deem all conditions as "acceptable", and issue a final loan approval (or clear to close). A Closing Disclosure is generated and sent to you for acknowledgment and a closing date and time will be scheduled with the closing attorney. Closing is the final step in the mortgage process and is when all of the funds are distributed to the receiving parties, and all of the paperwork is finalized and signed. The closing attorney will contact you to schedule a date, time and inform you of any funds needed at closing (if applicable).
- Continue to make timely payments
- Consult with me before applying for new credit
- Contact me if you have any changes in employment, income, finances, etc.
- Incur NSFs
- Deposit money into your account that cannot be verified (ex: large cash amount, a check from another person who is not gifting you funds)