GET STARTED
Organize your documents
If you are buying or refinancing a home
- If you are salaried: provide two years W-2 and one month of paystubs OR if you are self-employed: provide two years tax returns.
- Provide three months bank statements for each bank, stock, mutual fund and/or retirement account.
- If you are requesting a cash out refinance provide a letter explaining what you plan to do with the proceeds.
- Provide a copy of divorce decree if applicable.
- If you are NOT a US citizen, provide us with a copy of your green card (front & back) or, if you are NOT a permanent resident provide us with your H-1 or L-1 Visa.
- Copy of ID such as driver's license.
Get Qualified
Getting qualified before you apply for a loan can help you understand how much you can borrow.
When buying a house, you may get pre-qualified or pre-approved. A pre-qualification is not as beneficial as a pre-approval where you have to go through a more rigorous process which includes verification of your credit, income, assets and liabilities. It is highly recommended that you get pre-approved before you start looking for a house. This will help you:
- Find out the maximum house you can buy, so you don't waste time looking for properties you cannot afford.
- Puts you in a stronger position when you are negotiating with the seller because the seller knows that your loan is already approved.
- Helps you close quickly, since your loan is already approved.
Obtain Loan Approval
Once your loan application has been received we will start the loan approval process immediately. This involves verifying your:
- Credit
- Employment
- Assets including your bank accounts, stocks, mutual fund and retirement accounts
- Property value
Based on your specific situation, additional documents or verifications may be required. To improve your chances of getting a loan approval:
- Fill out the loan application completely.
- Respond promptly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date.
- Do not make any major purchases. Do not buy a car, furniture or another house. Anything that causes your debts to increase might have an adverse affect on your current application.
- Do not move money into your bank accounts unless it can be traced. If you are receiving money from friends, family or other relatives, please contact us.
Close the Loan
After your loan is approved, you will be required to sign the final loan documents. Be prepared to:
- Provide guaranteed funds as required (i.e., bank check, wire). Personal checks are not accepted.
- Review and sign the loan documents.
On refinance and home equity loan transactions federal law requires that you have 3 business days to review the documents before your loan transaction can disburse.
