| Connecticut Mortgage |
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| 860-225-5731 / 712-5553 |
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| Info@MortgagesInCt.com |
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The Myths The Application The Processing The Underwriting The Closing
A loan officer will take your application either over the phone or in person. They will ask you questions about your residence history, your employment history and sources of income, your marital status, the purpose of the loan, your assets, your liabilities and financial obligations, any bankruptcies or foreclosures. They will ask your date of birth and your social security number and run a credit check.
It is very important that you answer these questions as accurately as possible. Inaccurate information will not necessarily prevent you from getting a mortgage but it will slow down the approval process. The information that your provide will be used to get you the best loan and terms for your specific situation. One size does not fit all.
After taking the application, certain forms of documentation must be provided to complete your loan package. Different programs require different documentation. Your loan officer will give you a list of items you must provide.
Here is a list of common items you may or may not have to provide depending on the program :
Original signed loan application and all mortgage loan disclosures (always needed)
Copy of year-to-date pay stubs for past 30 days
Copies of last two year W-2's or 1099's
If self-employed, federal tax returns for the past two years and YTD profit/loss statement
Personal tax returns for the last two years - all schedules, signed.
Homeowner's insurance information (include policy # insurance agent's tel. #) (always needed)
Copy of the property appraisal (your loan officer can get this from the appraiser)
Copies of bank statements for the past 2 months
Copy of signed sales contract if purchase (always needed if purchase)
Termite inspection report (if purchase, always needed)
For VA loans: copy of DD214 and certificate of eligibility (Always needed for VA loans. We can get it for you)
Other documents that may be required in certain circumstances:
Original gift letter signed by both the donor and recipient of gift
Separation agreement or divorce decree and alimony or child support order
Bankruptcy petition and discharge documentation
Green card or work visa
Letter of explanation for the gap in employment (example - school attendance)
Information about debts or credit report items that may have been delinquent or not accurate.
Evidence of your mortgage or rental payments, such as canceled checks.
Photostat of drivers license (almost always needed)
Note * Commercial loans require additional documentation.
Call 860-225-5731/712-5553
