Atlanta Home Buyers need to know...Part 4

Mortgage and Lending with Bay Equity, LLC 770-634-4021 NMLS #206275 GA 25689

Atlanta home buyers that will be financing a home need to understand the mortgage underwriting process. 

For all financing programs, FHA,VA, USDA, Jumbo and Conventional loans, will all follow the same basic process. 

Once you have completed the application, a package will be sent that includes the 1003 mortgage application and the disclosures.  You will need to return these forms with your supporting documentation. 

Supporting documentation will be:

·        Last 2 year’s FEDERAL tax returns

·        Last 2 year’s W-2

·        Last 30 days pay stubs showing year to date income

·        Last 2 month’s bank statements (all pages)

·        Last 2 month’s asset statements (all pages)

·        Copy of your driver’s license

The underwriter will now compare the information on your application with the supporting documentation you provided and the outside verification of income, assets, employment and IRS tax records. 

If there are questions or discrepancies, you may be asked to provide additional information or a letter of explanation.

Atlanta home buyers that have pulled the documentation together prior to finding the right property will find the process much easier.

Atlanta Home Buyers need to know...Part 3

Atlanta Home Buyers need to know...Part 2

Atlanta Home Buyers need to know...Part 1

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Kathy Sheehan Senior Loan Officer






Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988



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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.



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