Step 1: Organize your documents

If you are buying or refinancing a home
1. If you are salaried: provide two years W-2 and one month of paystubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.
2. If you own rental property, please provide rental agreements and two years tax returns.
3. If you wish to speed up the approval process, please also provide three months bank statements for each bank, stock and mutual fund account.
4. Provide recent copies of any stock brokerage or IRA/401K accounts that you may have.
5. If you are requesting a cash out refinance please provide a letter explaining what you plan to do with the proceeds.
6. Provide a copy of divorce decree if applicable.
7. If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.

If you are applying for a home equity loan
1.If you are salaried: provide two years W-2 and one month of paystubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.
2. If you own rental property, please provide rental agreements and two years tax returns.
3. Please provide a copy of the note on your first mortgage. This will normally be found in your closing loan documents.
4. Please provide a signed letter explaining what you plan to do with the proceeds.
5. Provide a copy of divorce decree if applicable.
6. If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.

1. Find out the maximum house you can buy, so you don't waste time looking for properties you can not afford.
2. Puts you in a stronger position when you are negotiating with the seller, because the seller knows that your loan is already approved.
3. Helps you close quickly, since your loan is already approved.

1. Credit history
2. Employment history
3. Assets including your bank accounts, stocks, mutual fund and retirement accounts
4. Property value

Based on your specific situation, additional documents or verifications may be required. To improve your chances of getting a loan approval:

• Fill out the loan application completely.
• Respond promptly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date.
• Do not make any major purchases. Do not buy a car, furniture or another house till your loan is closed. Anything that causes your debts to increase might have an adverse affect on your current application.
• Do not move money into your bank accounts unless it can be traced. If you are receiving money from friends, family or other relatives, please contact us.
• Do not go out of town around the closing date. If you do plan to be out of town when your loan is expected to close, you may sign a power of attorney, to authorize another individual to sign on your behalf.

• Bring a cashiers check for your down payment and closing costs if required. Personal checks are normally not accepted.
• Review the final loan documents. Make sure that the interest rate and loan terms are what you were promised. Also, verify that the name and address on the loan documents are accurate.
• Sign the loan documents.

Your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.