The Loan Process
The following information will help you prepare if your are thinking about getting a loan. Check out our Glossary for terms you are not familiar with.

Organize the required 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 three months bank statements for each bank, stock and mutual fund account.
4. Provide recent copies of any stock brokerage or IRA/401K accounts that you may have.
5. If you are requesting a cash-out refinance please provide a letter explaining what you plan to do with the proceeds.
6. If you are refinancing please provide a copy of the note on your first/second mortgage, a copy of your prior Title Insurance Policy, & Survey. These documents will normally be found in your closing loan package, which was received at the last closing.
7. Provide a copy of divorce decree if applicable.
8. If you are NOT a US citizen, provide us with a copy of your green card (front & back)

Get Pre-Qualified
Getting qualified before you shop for a home can help you understand how much you can borrow. When buying a house, you may get pre-qualified or pre-approved. You can get pre-qualified over the phone or on our web site in a few minutes using our Quick Qualification Form. 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 highly 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. Puts you in a stronger position when you are negotiating with the seller, because the seller knows that your loan is already approved.
3. Helps you close quickly, since your loan is already approved.

Shop loan programs, rates and fees
To shop for a loan you will need to:

• Think about how long you plan to keep the loan. If you plan to sell the house in a few years you may want to consider an adjustable or balloon loan. On the other hand, if you plan to keep the house for a longer time, you may want to look at fixed loans.
• Understand the relationship between rates and points. Points are considered to be prepaid interest and are tax deductible. Each point is equal to one percent of the loan. So for example 1 point on a $150,000 loan is $1,500. The more points you pay the lower the rate you will get.
• Compare different programs. Shopping for a loan can be difficult. With so many programs to choose from, each of which has different rates, points and fees, it's hard to figure out which program is best for you. That's where our experienced loan officers can help you make a decision that's best for you. You can also visit the Loan Programs section of our web site, which is filled with useful information.

Apply for the Loan
Once your loan application has been submitted we will start the loan approval process immediately. Within minutes we will send you via email or overnight delivery a completed loan application package for you to review and authorize. The following items are usually required to be verified:

1. Credit history (click here for Mortgage & Credit information)
2. Employment history
3. Assets including your bank accounts, stocks, mutual fund and retirement accounts
4. Property value
5. Based on your specific situation, additional documents or verifications may be required.

• Fill out the loan application completely
• Respond promptly 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 another house till your loan is closed. Anything that causes your debts to increase might have an adverse effect 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 contact us.
• Do not go out of town around the closing date. If you do plan to be out of 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 at closing. This will normally take place in at a Title Insurance Office. Be prepared to:

• Bring a valid drivers license and social security card for identification purpose
• Bring a cashier's check for your down payment and closing costs if required. Personal checks are normally not accepted.
• Review the final loan documents. Also, verify that the name and address on the loan documents are accurate.
• Sign the loan documents.