Lender and Loan Application
All purchase offers require proof of funds or the ability to finance the amount in a loan. If you are not intending to make a cash offer, it is important to start the mortgage application process before you start looking for a home. What you qualify for may exceed what you are willing to budget, or you may wish to alter your timetable to accomodate more favorable terms. Whatever the case may be, it is counter-productive to view homes that do not fall within your designated budget range, or may not be available when you are ready to buy.
First Step - Assemble Your Information
All lenders will require basically the same information so put together a folder of the following information:
- Federal tax returns for the previous two years with W-2's
- If self-employed, business tax returns and profit/loss statement
- Cancelled checks for your current mortgage payments or rent
- A list of your current creditors [including outstanding balance and minimum payment]
- Last 3 statements for all checking, savings and investment accounts
- Complete divorce decrees or bankruptcy papers, if filed
Uniform Residential Loan Application
The information requested in the Freddie Mac/Fannie Mae Uniform Residential Loan Application is generic to what any lender will ask from you. You are not expected to fill this form out on your own; however, it is a helpful tool to assist you in collecting your information and you may want to print a copy to pencil in reminder notes.
Statement of Assets and Liabilities
Designed to be a supplement to the Freddie Mac/Fannie Mae Application, this Statement of Assets and Liabilities may also be of help to you as you assemble your loan file.
Choose One Lender - Preferrably in Arizona
Many buyers have had escrows delayed by utilizing out-of-state lenders. Multiple inquires to the credit bureau can also harm your credit score and make finding a good rate more difficult. Make sure you are comfortable with the lender, that they are answering your questions clearly and are giving you the time you need.
Our Preferred Lenders
Nathan Jensen – Suburban Mortgage, Inc.
Mortgage Consultant
1910 S. Stapley Dr., Suite 107, Mesa, AZ 85204
Direct: 480-619-4406
Cell: 480-229-9717
e-Fax: 480-344-7913
FHA, VA, Bond Money Certified, Hablo Espanol
Mr. Pat Thiel – Alliance Senior Solutions
Senior Executive Banker
840 E. McKellips Rd., Suite 106, Mesa, AZ 85203Direct: 480-213-8197
Fax: 877-280-3398
“Helping Seniors Stay Independent” Reverse Mortgages, FHA, VA
Disclaimer: Sample documents are provided on this site as a free preview of the types of documents that may be a part of the Arizona real estate transaction. Your lender and you licensed Realtor® will determine which documents are necessary for your particular transaction and will provide you with the latest versions. Many Brokerages have their own documents that they require in addition to those provided by the Arizona Department of Real Estate, the Arizona Association of Realtors® and the Arizona Multiple Listing Service. Links to other service providers are a sample of how to start a search, not an explicit endorsement of the quality of their work.