Your North Atlanta Mortgage Loan Checklists









You have found that perfect home, the one you've dreamed about. Before you begin packing your bags, you may possibly need a mortgage loan to assist in purchasing that home. Below are two check lists to assist you with the mortgage loan process.





What You Need For A Mortgage Loan Application




1. W-2 Forms - or business tax return forms if you are self-employed - for the last two or three years for every person signing the loan.


2. Copies of at least one pay stub for each person signing the loan.


3. Account number for all for your credit card and the amounts for any outstanding balances.


4. Copies of tow to four month of bank or credit union statements for both checking and savings accounts.


5. Lender, loan number and amount owed on other installment loans such as student loans and car loans.


6. Addresses where you've lived for the last five to seven years with name of landlord if applicable.


7. Copies of brokerage account statements for tow to four months, as well as a lit of any other major assets of value, such as a boat,  rv, or stocks and/or bonds not held in a brokerage account.


8. Copies of your most recent 401K or other retirement account statement.


9. Documentation to verify additional income, such as child support or a pension.


10. Copies of personal tax forms for the last tow to three years.


Questions To Ask Your Mortgage Lender




1. What are the most popular mortgages you offer? Why are they so popular?


2. Which type of mortgage plan do you think would be best for me? Why?
3. Are your rates, ters fees, and closing costs negotiable?


4. Will I have to buy private mortgage insurance? If so who much wiill it cost and how long will it be required?


5. Who will service the loan - your bank or another company?


6. What escrow requirements do you have?


7. How long will this loan be in a lock-in period? Will I be able to obtain a lower rate if it drops during this period?

8. How long will the loan approval process take?


9. How long will it take to close the loan?

10. Are there any charges or penalties for prepaying the loan?


For more information on purchasing a home in the North Atlanta area, contact The Mary Ellen Vanaken Team - Keller Williams Realty North Atlanta. 5780 Windward Parkway, Suite 100, Alpharetta, GA 30005 www.northatlantaluxury.com 678.929.6529










 Your North Atlanta Mortgage Loan Checklists