How can a mortgage company like Potempa Team help me?
What kind of documents will I need to apply for a loan?
However, there are certain things that you may need when buying or selling a house:
- A copy of the signed sales contract, including any and all riders
- Verification of a deposit you placed on the house
- The contact information (name, address, email, and phone numbers of all the realtors, insurance agents, attorneys, and builders, if applicable) involved
- A copy of the listing sheet and the legal description of the property
- For condominiums, you’ll need the declaration, by-laws, and the most recent budget
- Copies of your pay stubs, usually 30 days and year-to-date
- W2- forms for the last two years
- Employer contact information
- Documentation explaining any employment gaps
- If you’re self-employed, then tax returns for the last two years
- Partnership information including K-1’s and S-Corp documents
- If you’re using alimony or child support to apply fr your loan, then you’ll need copies of the divorce decree and the court order stating the support
- Any documents regarding income derived from Social Security, VA Benefits, or Disability benefits
- The source of your down payment, including a sale of your existing home, bank accounts, including savings, stocks and bonds, gifts, or other monies
- Any outstanding debts, including child support or alimony
- Contact information of the landlord or mortgage holder for the past two years
- Check for the application fees
What are good questions to ask my mortgage advisor?
- What type of loan is best for my needs?
- How much of a down payment will I need?
- What is my loan estimate?
- What will my interest rate and APR rate be?
- Will I have a rate lock?
- Will there be a penalty for paying off my loan early?
- What will I be expected to pay for at closing?
I've been denied a loan before. Can you help?
Can a mortgage adviser help me with my existing loan?
What is an APR?
How is my credit judged by mortgage lenders?
Your credit score determines the interest rate you’ll get, and possibly how much the bank will lend you. You may also be able to avoid paying PMI if you have a good credit score. However, if you have a lower credit score, you may not be able to get a home loan on your own. A mortgage advisor can find lending opportunities you may not be aware of and help you be a more viable candidate for a home loan.
What is PMI?
What can I expect at closing?
The Potempa Team – Your Professional Mortgage Advisement Team
Every home buying experience is different, and if you’re applying for a mortgage, you probably have more questions than we’ve listed above. Give your local Potempa Team a call today for a consultation and discover how we can help you achieve the home of your dreams. We can work with your financial circumstances to find the best available loan and rate for you. Give us a call today or visit us online for more information and to set up a personalized consultation!