Financing

Financing

We strongly recommend that you work with an experienced professional in the loan process.   We are glad to suggest names of loan officers we have found to be reputable, dependable and who deal honestly and fairly with the clients we refer to them.

Here is a list of paperwork that you will be requested to present when you make application for a loan.   We give you this list so you will remember to bring these with you and not pack them in a moving van box.

  1. Residence addresses for 2 years
  2. Most recent pay stubs, W-2s, tax returns for 2 years
  3. Names and addresses of all employers for 2 years
  4. Names, addresses, account numbers, balances and monthly minimum payments on all open loans and credit cards with copies of your most recent statements
  5. Most recent bank statements (3 months worth) for all checking and savings accounts.
  6. Addresses of all real estate owned, mortgage account numbers, balances owed and monthly payments.  Name and addresses of lenders.
  7. Copy of divorce decree if applicable
  8. Copy of bankruptcy papers if applicable
  9. Copy of drivers license or picture ID
  10. Certificate of eligibility or DD214 for VA loans
  11. Check for credit report and appraisal

Our AZ Purchase Contract has a form called the Loan Status Report that must be included with every offer to purchase a home .    It requires that if you are obtaining financing for the purchase of a  property, that you have spoken with a lender and that the lender has established your qualifications as a purchaser. The lender fills out the report and you and the lender must sign it.  You will not have to have paid for other than a credit report check to get this form signed, it is not an obligation by you to procure your loan from this lender.

If you are purchasing a property without financing, a letter of credit or other means of showing the appropriate amount of cash is accessible to you is required.

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