-Starting Your Loan Process In Time

• Determine a maximum loan amount for qualification on purchasing (this will save you time in viewing properties that are out of your price range)
• Learn of all financing options and special loan programs available
• Discover any credit issues that may need to be corrected
• Know the total cash needed for your purchase
• Know what financing concessions can be negotiated with the seller on your behalf
• The negotiating position of a buyer is greatly strengthened if a loan is in place

Prior to meeting with your loan officer, obtaining the documents listed below will facilitate the loan process. To help organize the process, use the following easy-to-reference checklist (also available with loan application and other tools online at HomeTeam Mortgage Company), and mark each box as the item is obtained. The following list is a standard mortgage checklist for traditional full documentation loans. For reduced document or no document loans, please contact your loan officer.

• Copy of sales contract
• Residence address for past two years (if renting, include Landlord’s address and telephone number)
• Employers name(s) and address for past two years (if self-employed, tax returns for two years)
• W-2s for past two years and pay stubs for most recent thirty day period
• Name, addresses, account numbers for any mortgages held in the last two years;
• HUD-1 settlement statement of properties sold in last two years
• Name, addresses, account numbers and balances of all liquid assets including checking, savings,investments, IRAs, 401K, etc.
• Last two months’ statements on the above accounts
• Name and account numbers, balances, and monthly payments on all debts
• If VA application, Certificate of Eligibility and DD 214
• Funds to pay fees for appraisal and credit reports

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