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| RE Financing Process | ||
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The main source of all mortgage money is the money , people save from the wages , profit , interests, or any other source of income paid to them in exchange for the services and goods they produce. money used for home mortgages comes from surplus money that people put in savings accounts in banks. |
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Many people is afraid to start the financing process because it is difficult to control the entire procedure . Despite this opinion we need to go through in order to obtain money for the purchase . |
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With modern electronic technologies , lending institution offer much faster and easier to go through process of securing a loan. |
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After all , a good RE-agent will be helpful in obtaining loan for purchase of your properties . |
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| Information needed for Application | ||
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| All Lending Institution in the country are using standarized application form . Whether you apply for loan with the Bank or with the smallest Broker firm the standard form will be the same , some additional information may very from one lender to another . | ||
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| IMPORTANT PAPERWORK APPLICANT WILL NEED TO SUBMIT : | ||
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| 1. W-2 for 2-Years & current paystubs-30 days | ||
| 2. Past 12-month pay history for landlord / mortgage | ||
| 3. Employer information , 2-Year history | ||
| 4. Bank account # , names , Bank balances . | ||
| 5. Last 3-months bank statement - all accounts . | ||
| 6. Open loans names , addresses, numbers , balances and monthly payment. | ||
| 7. Real property owned information | ||
| 8. Drivers License or Photo ID. | ||
| 9. Self Employed: Last 2-Years Tax Returns. | ||
| 10. Social Security Cards. | ||
| 11.Divorce Decree , if applicable. | ||
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| FRONT PAGE | NEW LISTING | 100% FINANCING | BUYING vs RENTING | | ||
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