How the Loan Process Works
- Begin loan pre-approval process – Gather Required Documents
- W-2’s for all wage earners for the last 2 years
- Copies of the one months pay stubs for all wage earners
- Copy of Federal Tax Returns for the last 2 years (needed for self employed and investors only)
- Copies of 2 months checking bank statements
- Copies of the last 2 months savings bank statements (savings, 401(k), IRA’s, etc.)
- Copy of a valid driver’s license or government issued identification
- Copies of the payment coupons from your current mortgage and equity lines
- Copy of current tax bill
- Copy of Homeowners Insurance bill
- Apply and Get Pre-Approved
- This process helps you determine the amount you can borrow. Sign and complete the loan application and
disclosures. At this time, income and credit verifications are completed as well as checks on your assets and
liabilities. During the loan approval process, it is important not to significantly change the status of any of your
- Compare Loans and Rates
- Deciding on the loan amount and length of your loan period will help you determine if points and fees make
sense. Do you plan to hold onto your property for an extended period? A fixed or a variable rate is one of many
choices available to you. There are also several alternatives to points and fees. We can help you find the right
loan program for you.
- Lock your rate
- Work with us to lock in your rate. You may be required to submit additional documentation before the loan can
be approved. Your loan application will go through the final approval process which includes verifying the
information submitted on your application. It is important to postpone making any major purchases or changing
the status of your financial accounts. Large deposits and withdrawals must be documented. If you make any
significant changes in your application information, please let us know beforehand.
- Close your Loan
- Review and sign loan documents. Check the documents carefully for the correct interest rate, loan amount,
names and addresses. If you’re purchasing a property you may be required to bring a cashier’s check or to wire
funds. Refinance loans on primary residences have a mandatory three-day rescission period.
Call now 510.397.3037
FHA Loan Programs
The Federal Housing Administration (FHA)
insures a number of loan programs to help
you become a homeowner, and we can
help you find a lender with the right FHA
loan products. There are lots of programs
and options to choose from, but rest
assured that from start to finish, we know
FHA and can find a lender with the right
loan product for which you are qualified.
We will make the process as smooth and
efficient as possible.
Purchase with 97% LTV
Gift funds, seller contributions, and
community second allowed for no out-of-
pocket costs. Buy a home without draining
your savings account. This attractive home
loan program requires only 3% down, which
can come from gift funds or community
- “All gift” down payment allowed from
acceptable gift donor
- Community second and seller
- Credit scores as low as 620
- Specific mortgage insurance
requirements apply. Ask for details.
VA Home Purchase Loan
Current low interest rates and VA purchase
loans are a winning combination to help you
buy a home. VA loans offer great features
such as no money down and credit scores
as low as 620. Competitive rates and no
mortgage insurance premiums may mean
lower monthly payments than conventional
- Option for no down payment
- No monthly mortgage insurance
- Low to no reserve requirements
- Credit scores as low as 620
- VA Jumbo with loan amounts as high
as $1.5 million are available.
- Variety of fixed and adjustable rate
loan options available.
- Seller or lender may contribute to
veteran’s closing costs.
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