Information Needed for a Home Loan Application

By Mary O'Neil

Are you considering applying for a home loan in the near future? Then this is all the information you should begin collecting! It can save you a lot of time and hassle to have it all together before contacting a loan officer. W-2 (2-years) & Current Pay Stubs, Self-Employment or 1099 ¬†– Last 2 years…

The Home Loan Process

By Mary O'Neil

Pre-qualification/ Pre-approval (Credit Report Run) Formal Loan Application Taken Escrow and Title Ordered Appraisal Ordered Income and Asset Information Verified Complete Loan Package Submitted TO Underwriter Loan Approved Obtain and Forward to Underwriter any additional items that may be required Interest Rate Locked Loan Documents Ordered and Sent To Escrow Loan Documents Signed by Borrower(s)…

Never Forget Your Preapproval Letter

By Mary O'Neil

Pre-qualification is an informal way to see how much you maybe able to borrow. You can be ‘pre-qualified’ over the phone with no paperwork by telling a lender your income, your long-term debts, and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of the…