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Do You Really Want to Close Your Mortgage Home Loan on Time in California or ANYWHERE?
San Francisco Ca, As you have heard, basically…EVERYWHERE IN THE MEDIA, lenders require A LOT of documentation to close a loan when purchasing or refinancing a home in this day and age. Loans are definitely fully documented and without question YOUR BEST DEFENSE IS A GREAT OFFENSE!
That being said here is what you must have prepared with your lender and agent when prepared to write offers:
· A Cover Letter – Tell your story and make sure your lender know your story. Don’t forget to include any skeletons dangling in your closet, collections, alimony, child support or unpaid IRS liens. Paint a pretty picture but explain any skeletons.
· A completed loan application – review for accuracy.
· If you own property already tie all mortgages from your credit report to your properties.
· If you own property already submit mortgage statements and proof of insurance and property taxes.
· Tri Merge Credit report – your lender will pull this. Get a copy, don’t pull your own. Especially if you are writing on bank owned properties. Most bank owned properties want you pre approved with their institution. That means if you go out and look at offers on 5 ... more
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