| Information needed at Loan Application |
| 1) |
W-2 (2-years) & Current Pay Stubs, Self-Employment or 1099
– Last 2 years tax returns |
| 2) |
Landlord name/ Telephone
– Last 2 years |
| 3) |
Employer name/ Address/ Telephone
– Last 2 years |
| 4) |
Asset Information
– Past 2 month’s statements where your funds to close Escrow are |
| 5) |
Information on Stocks/ Bonds/401K, etc. |
| 6) |
Name and telephone number of Realtor |
| 7) |
Name and telephone number of Escrow |
| NOTE: |
The above is for fully documented loans. Reduced documentation and stated income loan requirements vary. Please call for complete details |
| The Home Loan Process |
| 1) |
Pre-qualification/ Pre-approval (Credit Report Run) |
| 2) |
Formal Loan Application Taken |
| 3) |
Escrow and Title Ordered |
| 4) |
Appraisal Ordered |
| 5) |
Income and Asset Information Verified |
| 6) |
Complete Loan Package Submitted TO Underwriter |
| 7) |
Loan Approved |
| 8) |
Obtain and Forward to Underwriter any additional items that may be required |
| 9) |
Interest Rate Locked |
| 10) |
Loan Documents Ordered and Sent To Escrow |
| 11) |
Loan Documents Signed by Borrower(s) |
| 12) |
Final Pre-Closing Conditions Sent To Lender |
| 13) |
Loan Funds Wired to Title |
| 14) |
Loan and Grant Deed Record, Close of Escrow |
