Information To Prepare For Your Home Loan

You’ll need to gather some important information which allows our home loan advisors to successfully provide you an actionable home loan rate quote online. You'll need the following for your online home loan rate quote:

• Credit score estimate(s)
• Annual gross income estimate
• Total debt estimate
• Monthly debt payments estimate
• Your citizenship
• Purpose of the home loan (refinance, new purchase, etc.)
• The type of home loan (30 year fixed, 5/1 ARM, etc.)
• Type of amortization (interest only or fully amortized)
• Loan amount requested
• Down payment intended (if any)
• Points you’re willing to pay (if any)
• Maximum out of pocket expenses you’ll pay (if any)
• How you’ll pay the fees (roll into loan or pay out of pocket)
• Property address (street number and contact information is private)
• Approximate value of home (use www.zillow.com for an estimate)
• Type of property (single family, townhome, etc.)

Home loan document preparation - A properly documented home loan application helps the process go smoothly.  The following paperwork will be needed after you select your home loan advisor:

• Complete and sign your home loan advisor’s residential loan application, Form 1003, a home loan info sheet, credit authorization and fair lending notice. If you make a mistake while filling out the application cross it out, and make a change. Do NOT use whiteout.
• If you are salaried: provide W-2's for the previous two years and one month of paystubs. If you are self-employed, provide tax returns for the previous two years, including all schedules, and a YTD profit and loss statement. (Note: provide copies of all requested documents. Do not provide original documents.)
• If you own rental property, provide recent rental agreements and tax returns for the previous two years, including all schedules.
• To speed up the approval process, provide bank statements for the most recent three months, and recent statements for stock, mutual funds and IRA/401K accounts.
• If you are requesting a cash out refinance loan, provide a letter explaining how you will use the refinance proceeds.
• If applicable, provide a copy of your divorce decree and settlement agreement.
• If you are NOT a US citizen, provide a copy of your green card (front & back). If you are NOT a permanent resident provide a copy of your H-1 or L-1 visa.
• If you have filed bankruptcy, provide the Discharge Notice, Filing and Schedule of Creditors.
• If you are applying for a home equity line of credit or loan (second loan), also include your first mortgage note. (This should be with your closing loan documents.)