Understand Your Situation

Call Me.

If you know you're ready to refinance or purchase, skip to the next step.

Otherwise, we are here to help you navigate this process and provide the information you may need to make an informed decision..

I originate loans for a variety of lenders. I'm not captive to any particular lender. I offer choice. Therefore, I'm in the the best position to find a lender offering you the best rate, terms and fees for your unique situation. You come first.

Understand Your Situation

Are You Ready?

This is a deliberate process. It really isn't that complex. Here are some pointers.

Mental Readiness: Like any major decision you want to be sure you really want to do this. If there is some doubt, wait until you and your family are comfortable with moving forward.

Credit Report: Take a look at your credit report to correct any errors. While the score you get from free credit services will not be the same as the Home Loan Credit Report, this will give you an idea where you stand. Your credit report and score is a major factor which determines the cost of your loan.(What Is In Your Score)

Bank Accounts: Lenders will look at your bank account. Be ready to explain transactions over $500 for the past two months.

Tax Returns: Most lenders will require the past two tax returns. Make sure they are filed and if you owe taxes make sure you have started a payment plan.

Before You Close: It's usually best to delay any major purchases until after you close your loan. This is for two reasons. You may need to show the lender extra cash reserves in order to close. Some lenders may want an explanation for purchases over $500. If you're planning any changes to your income source such as starting a new job or starting your own business, it's best to do so after your loan closes.

Understand Your Situation

Know Your Numbers.

Lenders typically evaluate the 5 Cs of credit.

Capacity: How much disposaable income do you have to service loan payments? They typically consider monthly debt payments versus your regular monthly income. The lower your DEBT to INCOME (DTI) ratio the better. If your income is irregular or self-generating they typically use a two year monthly average. Find your past two W2, 1099, tax return and past 2 months bank statements.

Capital: How much skin do you have in the game? The more you have invested the better. They typically look at the appraised value of the property versus the loan amount. The lower the Loan to Value (LTV) ratio the better. The acceptable LTV will depend on your income circumstance and veteran status. Lenders will order their own appraisal and you foot the bill. Two months of bank statements will indicate how much extra cash you have available. The more cash the better.

Collateral: Lenders want to know how they will protect themselves if you don't pay in the future. Your property is your collateral. However, the acceptable type and condition varies with lenders.

Character: Lenders decide whether they trust you to meet your loan obligations. This is typically based heavily on your credit history and score. Your credit report should demonstrate responsible use of credit.

Conditions: Lenders will consider the purpose of your loan. Is this a refinancing with cash out, a purchase or a renovation project?

Comfort: At the end of the day both you and the lender must feel comfortable with your overall presentation and the lender's offer to help. They draft their policies and procedures in line with federal and state regulations to protect you, the consumer, and maintain trust and comfort with the home loan process.

Understand Your Situation

Compare Lender Rates and Fees.

What are other lenders offering? This is not an exhaustive list of all lenders in your area but it will give you a good idea of the competition.

I Match Or Best any Rate, Fees And/Or Terms you find here.

Apply

Complete The Application.

Provide your information. Please accurately estimate your credit score or also complete the next step to generate a credit report.

We will provide a Loan Estimate. With an actual credit report we will provide a more accurate Loan Estimate.

There is no obligation to proceed with us.

Please compare Loan Estimates, not verbal estimates, since the estimate must disclose all fees and charges related to your home loan. They are binding on the lender, not you.

Apply

Get Your Credit Report.

Not all credit reports are the same. Use a free service such as Credit Karma to assess and improve your credit profile if necessary. When you're ready order your home loan credit report.

Apply

Upload Documents.

We will send you a link to securely upload documents for all borrowers. Or, you may fax them securely to . Please include a cover page with your name, contact phone number and email. My team will return via email an estimate of your home loan and required disclosures.

ID:

1. A government issued picture identification.
2. Your social security card front and back.
3. Your resident alien card if applicable, front and back.
4. If you are a veteran, your eligibility certificate.

Income Documents:

1. Your two most recent federal and state tax returns, all pages.
2. Note unreimbursed expenses and or business loss.
3. Your two most recent W2 or 1099 statements.
4. Your two most recent paycheck stubs.
5. Two years business tax returns (all pages) if applicable.
6. K1's and 1120's if applicable
7. IRS 4506T to match tax returns personal and business if applicable

Other Documents:

1. Your two most recent bank statements (all pages) where you receive income and pay expenses.
   1. Letter of Explanation (LOE) with documentation for large deposits > $500.
2. LOE for credit report inquiries within last 6 months.
3. Documentation of any gift funds.
4. If you have an existing home loan:
   1. The most recent mortgage statement.
   2. The current note on the property.
   3. Your most recent hazard insurance statement.
5. If you are buying, any accepted offer with all addendums.
6. Verification of Rents (VOR) paid.
7. Authorization to obtain Verification of Employment (VOE).
8. Documentation of home owners association dues (HOA).