Get Pre-Approved
The first thing you want to do is contact a mortgage broker and set up a meeting for pre-approval. It
is important to obtain pre-approval prior to viewing properties as occasionally this process can take
several days. In addition, many homeowners will only consider an offer if the buyers show them
that they have lined up financing.
The first thing you want to do is contact a mortgage broker and set up a meeting for pre-approval. It
is important to obtain pre-approval prior to viewing properties as occasionally this process can take
several days. In addition, many homeowners will only consider an offer if the buyers show them
that they have lined up financing.
Documentation
Each mortgage lender is different, however, many have the same document requirements. Some
of the documents you will be expected to provide are:
* Last year’s W-2, if self-employed last 2 years of tax returns, business and personal
* Two most recent bank statements (checking and savings)
* 30 days of wage statements (payroll stubs)
* Most recent statements of any asset accounts (401K, SEP IRA, Investments)
Each mortgage lender is different, however, many have the same document requirements. Some
of the documents you will be expected to provide are:
* Last year’s W-2, if self-employed last 2 years of tax returns, business and personal
* Two most recent bank statements (checking and savings)
* 30 days of wage statements (payroll stubs)
* Most recent statements of any asset accounts (401K, SEP IRA, Investments)
Available Mortgage Products
There are many ways to structure your loan. Down Payments also vary - some buyers are even
approved to finance the entire amount of property. Each loan product is associated with a different
interest rate. Some of the types of loan products include:
* 15, 20, and 30-year fixed rate loans
* Adjustable rate loans – 3 year, 5 year ARMS
* New construction financing
* VA and FHA loans
* 5 and 7-year balloon loans
There are many ways to structure your loan. Down Payments also vary - some buyers are even
approved to finance the entire amount of property. Each loan product is associated with a different
interest rate. Some of the types of loan products include:
* 15, 20, and 30-year fixed rate loans
* Adjustable rate loans – 3 year, 5 year ARMS
* New construction financing
* VA and FHA loans
* 5 and 7-year balloon loans
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The Only Real Estate Resource You'll Ever Need
Kimberly Sledgister
MORTGAGE INFORMATION
| Kimberly Sledgister 773.230.4975 |