Organize your documents
If you are buying or refinancing a home

1. If you are salaried: provide two years W-2 and one month of pay stubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.
2. If you own rental property, please provide rental agreements and two years tax returns.
3. If you wish to speed up the approval process, please also provide two months bank statements for each bank, stock and mutual fund account.
4. Provide copies of any recent stock brokerage or IRA/401K accounts that you may have.
5. If you are asking for a cash out refinance please provide a letter explaining what you plan to do with the proceeds.
6. Provide a copy of divorce decree if applicable.
   

Get Qualified
Getting qualified before you apply for a loan can help you understand how much you can borrow.
When purchasing a house, you may get pre-qualified or pre-approved. You can usually get pre-qualified over the phone or on the Internet in a few minutes. A pre-qualification is not as beneficial as a pre-approval where you have to go through a more rigorous process which includes verification of your credit, income, assets and liabilities. It is recommended that you get pre-approved before you start looking for a house. This will help you:

1. Find out the maximum house you can buy, so you don't waste time looking for properties you can not afford.
2. This will put you in a stronger position when you are negotiating with the seller, because the seller will know that your loan is already approved.
3. Helps you close quickly, since your loan is already approved.

Obtain Loan Approval
Once your loan application has been received we will begin the loan approval process immediately. This involves verifying your:

1. Credit history
2. Employment history
3. Assets including your bank accounts, stocks, mutual fund and retirement accounts
4. Property value
   Based on your specific situation, additional documents or verifications may be required. To improve your chances of getting a loan approval:
   

• Fill out the loan application completely.
• Respond quickly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date.
• Do not make any major purchases. Do not buy a car, furniture or take on any other debt until your loan is closed. Anything that causes your debts to increase might have an adverse affect on your current application.
• Do not move money into your bank accounts unless it can be traced. If you are receiving money from friends, family or other relatives, please let us know.
• Do not leave town any time near the closing date. If you have to leave town when your loan is expected to close, you may sign a power of attorney, to authorize another individual to sign on your behalf.

Close the Loan
After your loan is approved, you will be required to sign the final loan documents. This will normally take place in front of a notary public. Be prepared to:

• Bring a cashiers check for your down payment and closing costs if required. Personal checks are typically not accepted.
• Review the final loan documents. Verify that the name and address on the loan documents are correct. Also make sure that the interest rate and loan terms are what you were promised.
• Sign the loan documents.
  

Your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.