Sellers Net Sheet Voted Best Realtor in Dallas

Acceptable Funds

One of the most annoying components of the Mortgage Paperwork is documenting and sourcing assets. All funds for the loan – including the Earnest Money, Down Payment, Asset Reserves, and Closing Costs – will be required to be documented and sourced. Acceptable Funds To be considered “acceptable funds” the money must be yours and accessible. Here […]

Get Pre-Approved for Mortgage Home Loan Best Mortgage Broker in Plano

Get Pre-Approved

Getting pre-approved for a mortgage home loan conveys your financial strength and commitment to the seller. In today’s hot market with a potential for multiple offers, most sellers require a pre-approval letter, not a pre-qualification letter. The sellers want to be certain that a buyer is capable of closing before taking their home off the market and […]

Mortgage Paperwork Checklist for best mortgage lender in Dallas 20

Mortgage Document Checklist

Below is the “big ol’ checklist” of documents required for underwriting to purchase or refinance home loan. This expands on the Pre-Approval Document Checklist and each item below can be expanded to provide more details of exactly what’s required. You’re welcome to fax, email, or upload the docs. Please let us know if you have any questions about […]

Real Estate Owned Documentation

Real Estate Owned is considered any type of real estate that is held in your personal name. Examples: house, lot, timeshare, commercial building, etc.. R.E.O. DOCUMENTATION If you own any real estate then additional documentation will be required.  Below is the REO Documentation section from the master Mortgage Document Checklist. For Current Home If Home is […]

Income Documentation

Please provide whatever is relevant to you. For example, if you don’t receive pay stubs then we will obviously not require pay stubs. If you own 25% (or more) of a business you should check out the Self-Employed Income sections for guidelines on how the mortgage world calculates the Qualifying Income. Also, the master Mortgage Document Checklist […]

Gift Funds Documentation Best Mortgage Loan Officer in Dallas Texas

Gift Funds

Gift Funds First and foremost, please let us know if any of the funds will be a gift so we can help you with the paperwork. A “gift” is considered any money that belongs to a person that is not applying for the loan. Note: money that has been seasoned in a bank account longer than 90 days is “seasoned” […]