Buying a home is one of the biggest decisions you will be making in your life. We are here to support you through each step of the process while financing your new home with us, but we ask a couple things of you:
1. Request an Application for Pre-Approval (24-48 business hours once application is submitted)
– DO NOT complete the on-line application. I will send you an application via email or fax. If you complete it on-line, I will need you to complete my application and resubmit. You will slow down the process.
-DO NOT send the below documents until you are pre-approved
2. Get Organized with the Sample Documents you will need
- 1040 Tax Returns- Signed, all pages for 2015 & 2016
- W2 and/or 1099 – 2015 & 2016
- Drivers License and Social Security Card (both applicant & co-applicant)-
- Paystub from Employer(s)- AFTER application date
- If retired/social security/disability: “Benefit Awards Letter” for SSI, Adoption etc.
- Bank Statement- 2 months
- 4506T – Authorization to release Tax Returns if needed
- Verification of Employment (VOE)
- Auto Draft- Complete form w/ voided check or “opt out”. You can always set this up later
- Rental Income- copy of current lease agreement
- Gift Letter if donor is giving your funds for a down payment
- Child Support/Alimony Support- Divorce decree or separation agreement- all pages
** Please note we do not hold or put a contract on a property until all the above pre-approval checklist documents above are cleared. Depending on your situation, you may be required for compliance reasons to provide further documentation. If you are paying cash or using an outside lender, we will need a pre-approval letter from your financial institution to put a contract together. Regardless, I will walk you through this process and make it as easy as possible.
3. Final Steps
- “Offer to Purchase” or “Contract” signed by buyer/21st Mortgage/Realtor- Lead time is approx 3-5 days
- Title Search- Our typical lead time is 2.5 weeks
- Appraisal- Our typical lead time is 3 weeks. Sometimes an appraisal is not needed depending on your credit.
- Underwriting thru our Credit Loan Department will be finalizing the Closing Disclosure- Lead time approx 3-5 days
- Closing- Great news here, we have a mobile notary! We come to you at your new home, work or if you are traveling to your temporary location
We are excited to get you into your new home. The properties sell very quickly. So to protect you, receiving your documents quickly within 24-48 hours helps to secure your future home.
Thank you for working with us!