When you apply for a mortgage or a refinance, you need to be ready. It’s not something that we can just put together for you out of thin air. Sure, we can pull your credit history and salary, but there is a lot of information that we aren’t privy to, and need from you to get your loan processed. When you call, please have your paperwork handy, to make sure that we can get your mortgage approved as quickly as possible, and hopefully get you into your new home or refinanced to that lower rate in 30 days. The key to a quicker mortgage approval? PAPERWORK.
Before you call, start getting it together. If you have done your taxes recently, you probably have most of this ready already, so just get anything else from the list below and add it to the pile. The key to figuring out what we need is to think of financials. We need to have a complete picture of your financial health to get your mortgage approved. Everything that we don’t have, or anything that you try to hide, will come out and slow down your application.
The last thing that you (and we!) want is to slow your mortgage down. We work quickly and carefully, but our best partner is a prepared, motivated buyer/refinancer. So get all of this paperwork gathered up, and give us a call. Here’s a partial list to give you a start.
- Paycheck Stubs
- Bank Documents
- Investment Documents
- Tax Documents
- Profit Statements (Only if self-employed)
- Proof of income from rental properties
- Proof that a gift is not a loan
- 12 months of canceled rent checks and bank statements
- Divorce decree
- Proof of age of children in child support is involved
- Bankruptcy discharge paperwork
While this isn’t an all-encompassing list, you can interpret it as examples of what you need to have to build your application. If these things don’t exist, like divorces or bankruptcies, then we obviously don’t need them.
If you’re ready to take rising home rates and low interest rates and use them to your advantage, call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?