The mortgage industry is fascinating. I've enjoyed over 20 years helping 1,000's of homeowners finance or refinance their home. Even amongst the turmoils that the industry has experienced over the last several years this continues to be one of the most rewarding aspects of my career. I'm currently carrying a pipeline Nationwide of over 70 loans for more than $40,000,000 in mortgage volume.
Rates are at all time lows and this is perhaps the last great opportunity to lock in to a long term rate before inflation hits hard.
Helping Homeowners For Over 20 Years
With the changes in the industry came changes to the documentation requirements. Are you self employed? Remember the "Stated Income" days? Well, they are long gone! Many people called them "Liar Loans" but that really wasn't a fair assessment of these loans. Those that abused these Stated Income loan programs brought this slang into the industry.
Unfortunately this change is here to stay. Now the following information is required on just about every loan submitted to an underwriter for approval. If you can verify your income is stable and sufficient to support the new mortgage payment, verify your assets and have good credit then you can get a loan.
Information Required for Most Loans
- Complete 2 years Federal tax returns with all addendums
- Most recent 2 years W-2 Forms and/or 1099's
- Most recent year to date computer generated paystub
- Most recent 2 months statements to verify Assets (ie. Savings, Checking, Brokerage)
- Photo ID's
- Bankruptcy Discharge of Debt and List of Creditors Papers (yes, you may still get a mortgage even after a BK)
This isn't an all inclusive list but is a typical list required for most people that I see apply for their mortgage. Occassionally, depending upon the type of loan and the circumstances of the person, other documentation will be required.
To initiate a mortgage application just you may call me at 224-805-2616 to schedule a time to talk through your mortgage loan needs.
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