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Below
is a list of document we need for the transaction. |
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PAYSTUBS.
Covering last month |
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W2.
Last 2 years |
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INCOME TAX REPORT. Last
2 years, only if you are self-employed or own investing properties |
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BANK
STATEMENT. Last 2 months |
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DRIVER
LICENSE. Copy |
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SOCIAL
SECURITY CARD. Copy |
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CURRENT
MORTGAGE STATEMENT. Refinance only |
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LOAN
APPLICATION. Sign |
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CREDIT REPORT. |
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OTHERS.
If any |
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Completed package is sent to the
lender for approval. It takes 2-5 days to get approved. Lender may
require extra docs if they need. |
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Once your application is approved,
you can lock your rate anytime. We notify you your rate daily. When
you decide to lock. We lock your rate and order Appraisal.
Borrower is required to provide credit card
for appraisal order payment (about $450). This fee will be credited
back to borrower at close of escrow if the transaction success.
If the transaction fails by any reason, this is the only cost the
borrower lost. |
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If appraised value and
all other requirements are sastified, lender completes the loan doc
and sends to escrow. Borrower signs docs at escrow. Transaction done.
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