Shirley GeorgeREALTOR®
Is this your first time to buy?
What I do for you as a buyer
- I will search the Multiple Listing Service (MLS) and match your housing needs to the area’s available inventory.
- Provide you with the properties that match your requirements.
- Provide you with lenders that have the best interest rates and buyer programs to get you pre-qualified and ready to purchase a home.
- Show you all the homes that you wish to view while working as YOUR agent.
- Negotiate the best terms for you when you find the home you wish to buy and place under contract.
- Help you arrange for a home inspection.
- Guide you through the closing process and attend to any last minute issues.
- Attend the closing with you as you sign the final documents.
Mortgage Checklist
Your relationship with a lender can potentially last 30 years. That’s a long time to be unhappy. To find a lender and loan that fit your needs, ask lending companies:
1. What are the most popular mortgage loans you make? Why?
2. Which type of mortgage plan do you think would suit us? Why?
3. Are your rates, terms, fees, and closing costs negotiable?
4. Will I have to buy private mortgage insurance? If so, how much will it cost, and how long will it be required? PMI is usually required if you put down less than 20 percent. Most lenders will let you discontinue the policy when you reach 20 percent equity by paying down the loan. But you’ll likely have to initiate that change. Lenders are required to cancel your PMI only when you reach 22 percent equity.
5. Who’ll service the loan—your bank or another company?
6. What escrow requirements do you have? Examples: number of days in advance of closing that money has to be deposited; form money must be in, such as cashier’s check.
7. How long is your lock-in period (the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if rates drop during this time?
8. How long will the loan approval process take?
9. How long will it take to close the loan?
10. Are there any charges or penalties for prepaying the loan?
What you Need when applying for a mortgage.
W-2 forms — or business tax return forms if you’re self employed— for the last two or three years for every
person signing the loan.
Copies of at least one pay stub for each person signing the loan. Account numbers of all your credit cards and the amounts for any outstanding balances.
Copies of two to four months of bank or credit union statements for both checking and savings
accounts.
Lender, loan number, and amount owed on other installment loans, such as student loans and
car loans.
Addresses where you’ve lived for the last five to seven years, with names of landlords if
appropriate.
Copies of brokerage account statements for two to four months, as well as a list of any other major assets of
value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
Copies of your most recent 401(k) or other retirement account statement.
Documentation to verify additional income, such as child support or a pension.
Copies of personal tax forms for the last two to three years.
