Things First

ST

1

The single most important thing before we open the door is your pre-approval

Checklist

Things you need to get started

BANK RECORDS

2 months current bank and asset account statements including all pages (no screen prints)

TAX FORMS

Last 2 years W2s and 1040s including all schedules

PAY STUBS

Past 30 days computerized pay stubs, to include year-to-date earnings

SELF-EMPLOYED

If self-employed, last two years' corporate tax returns and year-to-date profit & loss statement

"Know the Difference"

It's Important

HOW do I choose a lender?

There are so many options in todays marketplace when it comes to mortgages!

WHICH mortgage is best for me?

HOW do I get the lowest interest rate?

How do I apply?

Banks VS. Mortgage Companies

Lets talk about the differences! Your traditional banking institution where your personal and business accounts might be, may not be your best option for a mortgage! When we sit down I will go over how important it is to choose the right lender and why. I will also explain, as I see it, the pitfalls and risks of using online or out of state lenders!

Its critical to the process that you have all the information before making a decision.

BANKS

The majority of buyers turn to banks when it comes time to get a mortgage. They seem to be the most obvious choice, mostly because they are local in nature and are typically customer’s primary banking institution. This is not always the case and commercial banks are known to be conservative and offer fewer products than your average mortgage broker.

MORTGAGE COMPANIES

Mortgage brokers have far more access to loan products and types of loans than a commercial bank, whether it’s FHA loans, VA loans, jumbo loans, a USDA loan, or simply a borrower with bad credit. Thankfully in todays market, mortgage companies are beginning to offer portfolio loans again.