So you’ve finally found the perfect home – or are ready to take advantage of the low mortgage rates to refinance – and you’re sighing with relief that you’re in the final stretch.

And while you should, it’s important to stay on top of submitting documentation so your new home mortgage or refinance happens smoothly and swiftly. This ensures your mortgage or refinance happens in time for your purchase date or within the time frame of your rate lock. It also gives an accurate and complete picture to the underwriter processing your mortgage – making your new home or refinance a reality!  

The good news is that we walk you through every step of the way and make it very convenient with electronic document submission.

Where Your Home Loan/Refinance Begins

An accepted purchase offer and address for your new home is the green light for the bank to begin processing your loan . Our next step is to secure signatures on initial disclosures as that’s your gateway to everything else. It’s critical to sign this so we can begin ordering items such as appraisal and title work.  In today’s world, mortgage loans require a detailed picture of you as a customer. This includes understanding your credit worthiness, debt-to-income ratio, etc. This is done by reviewing your documentation.

Typical Documentation Required

At a minimum, most lenders require the following pieces of information:

  • Pay stubs for the past 30 days
  • Your most recent W-2
  • Your last two months of asset/bank statements
  • Your last two years of tax returns (if self-employed or using rental income)
  • Verification of any other income you want considered 

Of course, depending on your situation we may require other documents as well.

Options Make It Easy

We strive to make signing and submitting documentation as easy as possible. The good news is that if you want, you can complete much of the process electronically, COVID-19 showed us how beautifully processes and systems can work electronically. In addition, if you can’t or don’t want to email or fax documents, you can always drop them off at any of our locations and we can take it from there. 

We are here to support you through the entire mortgage or refinance process. Providing timely documentation helps us help you get into that new home according to schedule/secure that amazing refinance rate with a new mortgage on your existing home.

For more information on a home loan through Investors Community Bank, contact a member of our mortgage team.

Written by Amy Kronforst

Mortgage Coordinator, NMLS ID 2045363

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