The information provided herein has been prepared by a third party company and has been distributed for education purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of CrossCountry Mortgage or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.
February 17, 2020
This channel is all about practical money tips, regardless of whether or not you are in the market for a home. That being said, I get asked a LOT of questions specifically about mortgages. It makes sense- I am a residential loan officer, and have been for almost 20 years! So for this video, instead of my usual money tips, I want to give you some practical tips about what kind of paperwork is required when you apply for a mortgage. Sometimes the process of applying for a mortgage can seem daunting, but if you’re prepared in advance, it’s SO much easier.
So how do you prepare? Simple- start gathering documents! Your Loan Officer is most likely going to ask you for these when you start the process!
Financial Documents to gather:
If you are Self Employed, you’ll want to gather:
Personal Documents to gather:
Obviously every person has circumstances that are personal to them, so in some cases the following documents will be requested:
Miscellaneous Documents in some cases:
Don’t be intimidated!! I know this may seem like a lot, but I promise, it’s not all that bad. And technology is moving faster and faster every day and is making some of this easier for people. There’s a service called “The Work Number” by Equifax that actually allows us to gather a lot of these documents electronically from your employer. Not every employer subscribes to this service, but it’s worth checking with your HR department to see before you go about collecting paperwork!
If you have any questions about this, me and my team are always here to help! We have more info on the loan process, and you can even get a free mortgage quote on our website!!
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Lizy Hoeffer NMLS ID # 260183. AZ LO-0913409 I am authorized to conduct business in the state of Arizona. All loans subject to underwriting approval. Certain restrictions apply. Call for details. THIS SITE IS NOT AUTHORIZED BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES. PHONE NUMBERS DISPLAYED ARE NOT FOR USE BY NEW YORK BORROWERS. NO MORTGAGE SOLICITATION ACTIVITY OR LOAN APPLICATIONS FOR PROPERTIES LOCATED IN THE STATE OF NEW YORK CAN BE ACCEPTED THROUGH THIS SITE. CrossCountry Mortgage, LLC. NMLS1925878, 3100 West Ray Road, Suite 201 Office 212, 218, 219 & 228, Chandler, AZ 85226 (www.nmlsconsumeraccess.org)
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