The loan process can be daunting, but if you know all the steps involved and the documents that are
required from you to move forward then it is simple. Mortgage Loan Originator Marc Hutchison works at
Bay to Bay Lending in Tampa. He can help you!
1. Organize your Documents- By collecting most of the necessary information upfront, we analyze your situation and shop your loan around to the hundreds of lenders with whom we work. This enables us to offer you the lowest interest rate available, depending on which loan type for which you best qualify.
2. Get Qualified- Your loan is run through a complex online loan approval system to tell us--within seconds--whether you are qualified for a particular loan or not. You won’t have to wait weeks to know an answer. Of course, the final decision always rests with a human Underwriter, who will review your loan file including credit history, financial standing, property value, etc. amongst other factors.
3. Shop Loan Rates & Programs- If there’s a loan program you qualify for; we will find it, no matter what current financial situation you could be facing.
4. Apply for a Loan- If there’s a loan program you qualify for, we will find it, no matter what current financial situation you could be facing.
5. Processing- If there’s a loan program you qualify for, we will find it, no matter what current financial situation you could be facing.
6. Underwriting- If there’s a loan program you qualify for, we will find it, no matter what current financial situation you could be facing.
7. Closing/Funding/Title Company- Once all conditions have been cleared through the lender, we immediately move to close your loan as soon as possible. The title company prepares closing packages. Keep in mind, the loan process typically takes between 30 to 45 days to complete (however, we have closed loans in as little as 2 weeks before!). Remember, we handle the entire process from start to finish, leaving you with more free time and a lot less worries. We will be with you every step of the way!
Required Documents Checklist
-Asset statements covering the most recent 90 day period (last two months or most recent quarterly statements). *All pages of each, regardless of content, for the following:
- Checking
- Savings
- Retirement Accounts (IRA/Pension statement)
- Brokerage Accounts
- Other Asset Accounts
-2 recent pay stubs showing 30 days, year-to-date income
-The past 2 years of W-2s/Tax Returns (both personal and business), including all supporting schedules (2010 and 2011)
-Legible copies of your driver’s licenses and social security cards
-Current homeowners insurance deck page, including contact information for insurance agent for both homes
-Current mortgage statement for any financed properties
-Current HOA statement for any properties
*Refinance transaction should also include the following:
-Copy of original mortgage note (should be in your closing loan package from when you purchased the home)
-Current copy of your owner’s title policy (should also be in your closing package from when you purchased the home)
-Current copy of your survey (not applicable for condos)
Bay to Bay Lending is based in Tampa, Florida. The company has a team of mortgage brokers ready and willing to assist you with any of your loan needs. To reach Mortgage Loan Originator Marc Hutchison, contact him directly at (813) 489-5566 or reach out to him via email: marc@baytobaylending.com. With today’s interest rates at an all-time low, it is important to lock in today. Visit us on the web at www.baytobaylending.com and use our free mortgage loan calculators to see if it is a good time for you to refinance your home.
Comments(0)