Whether you want to buy your first home, invest in a new property, or get a lower rate – we have the product and service for you.
Loan Check List
What documents do I need to have ready for my loan? It’s important that you have your paperwork in order when you are ready to apply for your mortgage. In order to process your application and verify the information you’ve told us about your income, employment, assets, credit and identity, we require the following documents to be submitted with your signed application and disclosures.
Below you will find a broad overview of a few of the loan products you could consider. Each program has different requirements and specifications. One of our mortgage loan experts can help you analyze the various loan programs and determine which one best fits your needs.
Listed below are the documents needed under most circumstances. Certain loan types may require more documentation.
- Complete tax returns and W2′s for the past 2 years (all schedules)
- Most recent 30 days paystubs
- Residence addresses for the past 2 years
- Names and addresses of employers from the past 2 years
- Last 3 months of bank statements for all checking, savings, mutual funds/401K etc. (all pages)
- Color Copy of Your Drivers License
- Copy of Divorce Decree or Child Support Award Letters
- Sales contract or purchase agreement (If you have a home already selected)
- Certificate of Eligibility and DD-214 (For VA Financing)
Your Credit Scores
Your credit score plays an important part in the home buying process and in determining the different programs that you are eligible for. At The Chris Bonin Loan Team, we work with all types of credit scores and have numerous programs that can help those with Excellent Credit, Good Credit, & The Credit Challenged. We can also provide excellent advice and tips on how to raise your credit score for your upcoming mortgage. Please call us first for advice before you try to “fix your credit yourself”. You may do things that will unintentionally hurt or lower your credit score like payoff collections.
Which parts of a credit history are most important?
Below is a breakdown of the approximate value that each aspect of your credit report adds to a credit score calculation.
- 35% – Your Payment History
- 30% – Amounts You Owe
- 15% – Length of Your Credit History
- 10% – Types of Credit Used
- 10% – New Credit
What’s a Good Credit Score?
Credit scores (usually) range from 340 to 850. The higher your score, the less risk a lender believes you will be. As your score climbs, the interest rate you are offered will probably decline.
Borrowers with a credit score over 700 are typically offered more financing options and better interest rates, but don’t be discouraged if your scores are lower, because there’s a mortgage product for nearly everyone.
EXPERIENCE THE NEW CITY DIFFERENCE
Transparent Communication
Throughout the loan process, we will be communicating with you and your Realtor to ensure everyone is in the know.
Great Rates
Because we are both lenders and bankers, we are able to offer extremely competitive rates.
Wide Array of Loan Products
By working with over 90+ banks, we have unique loan products to fit your unique needs.
Fast Closings
Our in-house, detail oriented team dedicates their time to ensuring your loan moves fast through the pipeline.