Applying for a Home Loan

In our competitive marketplace, consumers must start the loan process well before putting an offer in on a home. There are a number of loan programs available, and determining which loan best suits your needs will depend on several key factors. How much do you intend to put down? How’s your credit? How much monthly debt do you have, versus your monthly income? The answers to these questions will affect your interest rate, which in turn will affect the amount of your monthly payment. This information is important; because it will help you to establish which price range you should look at while searching for a home.

Some of the information you should expect to provide at the time of the loan application are as follows:
Picture ID, Social Security Number, tax returns and/or W-2 forms from the past two years, most recent pay stubs, employment history including names, numbers and addresses of employers within the past two years, copies of all bank statements and stock certificates, and all creditor information including account numbers, current balances and monthly payments.

I will work closely with you and your Loan Officer throughout the entire loan process, making sure that your transaction is as smooth as possible.

Mortgage Brokers

Marcy Briggs
Loan Officer: NMLS #206779
Cobalt Mortgage
cell: 602-445-6415
fax: 602-680-4664
marcy.briggs@cobaltmortgage.com
www.thebriggslangteam.com

Ryan Halldorson
Smart Financial Mortgage
602-793-7204
ryan@hsmove.com
www.gosfm.com/65/Get-Pre-Qualified

Roger Cain
Loan Officer: NMLS #260006
Peoples Mortgage
ph: 480-707-8219
fax: 480-248-1050
rcain@peoplesmortgage.net

Loan Application Process

After you and your Loan Officer determine which program best suits your needs, you and your agent will be provided with a loan pre-approval letter. This is an important step in the home-buying process, because real estate purchase forms require buyers to submit a pre-approval letter along with an offer. This letter demonstrates your ability to complete the purchase of a home.

Remember, this pre-approval is based on your ability to purchase at the time it is written.
In order to insure this process goes as smoothly as possible it is very important that you do not make any financial changes.

The following is a list of what not to do after applying for a home loan and before your home closes:

•   Change Bank Accounts
•   Change Jobs 
•   Apply for Credit (credit cards, vehicles, furniture, department stores, etc.)
•   Co-sign a Loan
•   Spend Money Designated for Closing
•   Let Accounts Fall Behind
•   Buy a car
•   Buy appliances
•   Buy Furniture

During this time, it is advisable to be as conservative as possible with your spending. It is imperative that you do not make any financial changes to anything.  The loan company will require an update on your finances before closing. It can be difficult to resist the urge to shop for furniture or other items to decorate your new home, but please remember your goal is to purchase a home.  Make sure that major purchases are made after the closing of your home.

Congratulations you are on your way to buying a home.

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