New Home Tips
All tips tagged new home ✕
If you are purchasing a home, typically contract agreements require some sort of upfront earnest money deposit. Dramatically speed up the closing process by securing a certified bank check instead of writing a personal check. Read More
When buying a home, you need to provide proof of home owner’s insurance before you close on the loan. Buyers typically call a few providers and then select a carrier. Call to make your carrier selection when you go under contract and then provide the contact info to your lender. Read More
Your loan officer will provide a list of items needed to prepare your loan for approval. They will ask for full bank statements, tax returns, divorce decrees, etc. Help your lender help you by sending in ALL pages of any document they request, even the blank numerated pages. Read More
Although your lender will obtain copies of your paystubs and W-2s upfront, they will in almost all cases ask for subsequent paystubs or any newly issued W-2s, if applicable. Be prepared to send them in as soon as they are available to you.
Many loan applicants have had challenges in the past related to job loss, health issues, divorce, etc. If these triggers have caused negative credit items on your credit report, write an explanation letter detailing what led up to and how you overcame the derogatory credit.
It’s important to recognize that lenders are heavily regulated by the Government and much of the required loan disclosures are complicated, confusing, and often appear incorrect. After you have reviewed your loan package make a short list of questions for your loan officer. Read More
Your loan requires lots of paperwork and it's very possible your lender will ask for the same piece of information twice. Maybe it was lost, you sent the wrong item, an illegible fax, etc. It’s usually quicker and easier to send what is needed instead of arguing.