Loan Documents

Can I Get a Home Loan or Refinance if I’m Self-Employed?

Self-employment. It means a lot of things and sometimes self-employed people think they may not be able to get a home loan because they don't collect a W-2 because they think it might be impossible to prove their income. But this is not the case. If you're self-employed and you're looking for a home loan or to refinance the process is very similar to that of a typical job but you might need to come up with a few more documents. Getting a home loan is easier than you think if you're self-employed. Here are the rules. There have been [...]

What You Need to Be Ready for Your Home Loan Application

How to Prepare for a Home Loan Application Planning for home ownership is just as important as homeownership itself. Being prepared from the beginning can put you in a better place overall not only now but in the future. Nobody wants to purchase a home only to be foreclosed on or have too short sell it in five years. The purpose of buying a home is to gain equity, responsibility, and a long-lasting investment. If you're like most of us, you have to have a mortgage or a home loan in order to purchase a property. I want you READY - [...]

100% Paper-Free Mortgage Applications?

Getting approved for a mortgage could get a whole lot easier! If you've ever financed a car you know how much paperwork there is, well, buying a house means quadruple that paperwork. There literally is a paper to sign stating that you've signed the previous paper. There is so much paperwork involved in a mortgage application and final closing but, that may start to change. Mortgage giants, Fannie Mae and Freddie Mac, have rolled out a new program that allows lenders to skip the collection of many documents that borrowers may need to submit. Lenders may be able to access third-party verification portals [...]

Getting A California Home Loan: Why So Many Documents?

“Why do I have to provide so many documents when applying to purchase a new home?”   “It seems like the bank needs to know every detail about my financial background, previous residences and additional verification from my employer and the IRS.”   “I’ve heard from my family and friends that the process was so simple just 7-10 years ago when they purchased their homes.”   There are two very good reasons that the loan process is much more difficult for today’s buyer than perhaps any time in history. Our government developed new guidelines that demand banks prove beyond any doubt that you are absolutely capable of [...]

Documents Required for a New Home Loan - Purchase or Refinance

Documents Required for a New Home Loan – Purchase or Refinance

A question I am asked often is what information and / or documents do I need to provide? Because I am required to verify your income and financial information before giving you a mortgage loan, the items I request will provide the most complete picture of your financial history. Below are the documents I will need from you when we meet: Income Tax returns 2011-2012 (W2’s and 1099 if received) (2013 if filed or extension) Paystubs for the last 30 days Copy of Drivers License and SS card Mortgage Statement and hazard insurance declaration page for all real estate owned Asset statement most recent 60 days [...]

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