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Mortgage Loan Charlotte - Document Checklist

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The loan process is all about documentation. The underwriters usually get the blame for asking for all of this info but its really the guidlines that need to be met. The underwriter is only following the rules and trying to prepare your loan for acceptance and funding on the secondary market. Here is a basic list of documentation almost always required for today’s loans.

Identification:

  • Your social security number
  • Copy of your drivers license

Assets:

  • Bank statements for past two months (all pages)
  • Investment account statements for past two months (all pages)
  • Life insurance policy
  • Retirement account statements for past two months (all pages)
  • Make/model of vehicles you own along with their resale value

Liabilities:

  • Credit card account information, including balance & monthly payment
  • Auto loan account information, including balance & monthly payment
  • Personal loan account information, including balance & monthly payment

Incomes:

  • Current pay stubs and W2, and 2 years of tax returns (signed)

If you currently own Real Estate:

  • Mortgage account information, including balance & monthly payment
  • Home equity account information, including balance & monthly payment (if applicable)
  • Home insurance policy information

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Eric Storm

803-517-8791

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Posted in Blog, Feature Articles, Mortgage Info, Fri, 8/05/09

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Remodel Loan Specialist
In today's economic downturn loans are harder to come by than in the good old days. Loans that allow you to remodel (cash out loans) are almost non existent with a LTV (loan-to-value) over 80%. Banks have tightened their belts and restricted the loans they will make in response to the toxic debt they now carry on their balance sheets. So where do you turn? Who is stepping forward to help you the homeowner during these difficult times? I'd like to introduce myself, my name is Eric Storm. I lend in all 50 states and I live in Fort Mill, SC. I have been in the mortgage lending business for 14 years, through all the ups and downs several times. You can be sure of one thing, when you choose me as your loan officer you will get all the options available and I will help find the best mortgage for you.
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