Verifying Your Down Payment,
A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower. Down Payment & Closing Costs Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan. Take extra care to document the sources for any monies to be used for the down payment or closing costs.
Assets Collect information about your personal assets that add to your net worth and help to prove your credit worthiness.
Income and Employment The lender will want to confirm your current gross income and have evidence of stable employment. Documentation requirements vary depending upon a number of factors - including the source of income (hourly, salary, salary + bonuses, salary + commission, commission, self-employed, etc.).
Debts Your lender will want to review a list of all your current debts. This along with your credit report will provide the lender with a snapshot of your obligations. The lender will want to confirm that you will not be overextended when the mortgage payment is added to your current debt load.
|
- Mortgage Calculators
- US NATIONAL DEBT
- Inspection Tips
- GLT
- 9 STEPS TO OWNERSHIP
- CLOSING AGENT
- FORECLOSURE LISTINGS
- BE
- YOUR DREAM HOME
- TO SELL YOUR HOME
- 10 REASONS
- YOUR DOWNPAYMENT
- TOURS ON LINE
- FREE HOME VALUATION
- Mortgage Loan Programs
- Looking to Sell?
- We will E-mail new Home!
- Your FICO Credit Score
- MORTGAGE APPROVAL
- Loan Application Checklist
- Applying for a Mortgage
- Holding Title Information
- Insurance Closing Costs
- Closing Costs
- Why Title Insurance?
- Why Get An Inspection?
- Mold in the Home
- Living Trusts
- Staging Your Home
- Site Map
- Mortgage Payoff Calc
- Mortgage Qualifier Calc
- Fixed Rate Mtg Calc
- 15 vs 30 Year Mtg Calc
- Balloon Mortgage Calc
- Interest Only Calc
- Refi Breakeven Calc
- APR Calc
- EMAN
- FORMS
- U.S. CENSUS MIAMIDADE
- MIAMI-DADE TAX
- REAL ESTATE GLOSSARY
- CITY OF MIAMI
- MIAMI-DADE
- DICTIONARY
- FLORIDA REALTOR
- Looking to Buy?
- HURRICANE TRACKING SECTOR
- SOUTH FLORIDA WEATHER
- MIAMI FORECAST
- HOME
- FINE COLLECTION
- DBPR RE FORMS
- ZIP CODES
- HOUSING FINANCE AGENCIES
- SHORT SALE BUYER
- Download Adobe Acrobat
|
24/7 Realty, Inc. 1505 SW 8 AVE Miami, FL 33174
Why Title Insurance? | Why Get An Inspection? | Holding Title Information | 10 REASONS | Insurance Closing Costs | FREE HOME VALUATION | Your FICO Credit Score | CLOSING AGENT | FLORIDA REALTOR | MIAMI FORECAST | RENTALS | MIRIAM FELIPE | U.S. CENSUS MIAMIDADE | FINE COLLECTION | EMAN | HURRICANE TRACKING SECTOR | SOUTH FLORIDA WEATHER | TOURS ON LINE | CITY OF MIAMI | FORECLOSURES | MIAMI-DADE TAX | MIAMI-DADE | DBPR RE FORMS | BASEBALL HITTING | US NATIONAL DEBT | SW EAGLES | GLT | BE | ZIP CODES | Closing Costs | Inspection Tips | HOME | Applying for a Mortgage | Loan Application Checklist | HOUSING FINANCE AGENCIES | Living Trusts | Site Map | APR Calc | Fixed Rate Mtg Calc | 15 vs 30 Year Mtg Calc | Balloon Mortgage Calc | Mortgage Qualifier Calc | Mortgage Payoff Calc | Refi Breakeven Calc | Mortgage Calculators | Interest Only Calc | YOUR DREAM HOME | 9 STEPS TO OWNERSHIP | TO SELL YOUR HOME | Staging Your Home | SHORT SALE BUYER
Portions Copyright © 2024 Pipeline ROI, LLC
Another website by Pipeline ROI. | Admin Login | Terms of Use | Site Map | Area Listings
All rate, payment, and area information are estimates and approximations only.
Another website by Pipeline ROI. | Admin Login | Terms of Use | Site Map | Area Listings
All rate, payment, and area information are estimates and approximations only.