Our volume that we are seeing has been amazing currently we have in our 2 month pipeline approximately 6 months of what we did last year, and we continue to see a growing trend, and for that i wanted to thank all of my business partners and past clients that put their faith and trust when they refer me another client.
I can not thank you enough YOU are the reason our business continues to grow. Right now I am running about 50% purchase business and 50% refinance business and I believe its due to the fact that more people are deciding to take the plunge and not only shop for a home but also put their home on the market, there is something stimulating to a seller if their buyer is a first time home buyer and is going to get a tax credit for buying a home.
I thought I would also highlight things that we need for the loan application these items are:
•q Signed application and disclosures
•q Copy of driver's license
•q Copy of social security card
•q 2007 & 2008 federal tax return (1040's) with all schedules
•q 2007 & 2008 W-2 forms for all employers
•q Most recent four (4) paystubs
•q Most recent two (2) bank statements from all asset accounts (all pages)
•q "WEBSITE PRINTOUTS WILL NOT BE ACCEPTED FOR STATEMENTS"
•q Insurance agent name & phone number
•q Copy of real estate purchase contract
•q Copy of canceled earnest money check (front & back)-obtain from bank
•q Signed gift letter from donor
••q Copy of fully executed HUD-1 settlement statement from sale of home
There may be other items that are required based on a case by case basis for instance was there a recent divorce? A copy of the divorce decree would then be required to especially if debts that are the previous spouse still are showing on the credit bureau.
There may have been a bankruptcy in the past, providing a copy of the discharge could be required.
Perhaps a debt that is now paid off or a recently acquired debt that does not show up on the credit bureau yet in both cases documentation could be required.
Should you have any questions about applying for a mortgage or the items that you need please feel free to email me anytime at dstewart@oakstarbank.com.
Darren Stewart
OakStar Bank
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