- Divorce Decree (if applicable)
- Discharge Papers (if applicable)
- Bankruptcy Papers (if applicable)
- Pay Stubs (one month)
- IRS W-2's (last two years)
- Tax Returns (last two years)
- Bank Statements (last two months)
- Authorization & $22 to pull your credit report
Now that you have found a home you will come back and see me, your Loan Officer. I will ask you for a Good Faith Deposit. This is usually $500. I collect this money upfront for costs that I incur while processing your loan application. The money goes into a trust account and is only spent on bills that we have incurred for your loan. This is not money to pay me or my firm. I only get paid if your loan closes. At this point we also have you sign an new Good Faith Estimate and Truth-in-Lending form. I will also collect any outstanding conditions from you. I will then order the appraisal, title, and other items that need to be ordered or updated. This point of the process is mostly waiting...we wait for the appraiser, title company and others who have to provide information to us to complete your loan package. Once everything has come in we then send your loan to Underwriting again for final Loan Approval.
