Be Prepared to get your mortgage

The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.

You may prefer to talk with me at C2 Financial Corporation before house hunting to determine in advance how much you can afford and the mortgage amount for which you can qualify. This step is called pre-qualification and can save you time and trouble by making certain you are looking in the correct price range.

To complete the 1003 Mortgage Application (required for all loans) and to verify your information afterwards, you will need to gather:

Having these items on hand when you visit the mortgage company will help speed up the application process . Usually an appraisal fee will have to be paid when you submit the mortgage application. After you speak with us, you should have a general idea if you qualify for the size and type of loan you want. After the mortgage application . We will let you know if you qualify for the loan in as little as one day for some loans but longer for some loans or if lending is very busy. Pre-qualification can occur in as soon as same day of your application.

A purchase contract for the house (if you have one)

Your bank account numbers and the address of your bank branch, along with checking and savings account statements for the previous 2-3 months

Statements or account information on all your insvestments, retirement accounts, mutual funds or other liquid and non-liquid assets. This should show value as well as any regular income from these assets

Pay stubs, W2 withholding forms, tax returns for two years, or other proof of employment & employment income

Many lenders now require two years of complete taxes, so have those ready in case you need them

Complete information to verify retirement, disability or other income. Includes disabilty approval letters and entitlement letters.

Credit card bills for the past few billing periods, or canceled checks for rent or utility bill payments, to show payment history and amount of revolving debt

Information on other consumer debt such as car loans, furniture loans, student loans and retail credit cards

Rental agreements for renters

Year to date income and tax returns, if you are self-employed

Any gift letters, if you are using a gift from a parent or relative or other organization to help pay the down payment and/or closing costs. This letter simply states that the money is in fact a gift and will not have to be repaid.