During our initial conversation we will discuss your goals and try to get a feel for what you are trying to do. There is no need to pull a credit report this early in the process. I will simply email you an estimate of what the numbers will look like.
Our detailed estimate will itemize all of the closing costs and help you zero in on what your future monthly payment will be. This is a good exercise to do if you don’t know what you qualify for or you don’t know where your payment will be in a given price range.
Later on in the process, when it comes time to pull your credit, we will run your file through automated underwriting to either Fannie Mae, Freddie Mac or FHA. We embed your credit report into our mortgage origination software and submit directly to get the feedback on your file. The feedback is immediate. We will get a feedback of approve/eligible, refer or refer with caution. “Yes, no or maybe.”
With this feedback we are able to tell you that you are eligible to go purchase that home or if you have to fix something in the short term.
From this point we are basically verifying the information you submitted and the rest is easy.
We can meet with you in person or if you have the ability to scan and email we will ask you for a standard checklist of items we need in order to process your loan. Here is a typical checklist of what we may ask for.
1.) Two years tax returns, personal and business if you have one. Please -sign page 2
2.) Last two years W-2’s and 1099’s
3.) Most recent 30 days of paystubs.
4.) Most recent two months of bank statements. We will need to explain all large deposits.
5.) Two forms of ID, either a driver’s license, social security card or passport.
This will be enough for DHL Mortgage to issue a pre-approval letter when it comes time to make an offer. We stand by our pre-approval and will guide you through the remainder of the process.Here is a tutorial we created so you will know all of the steps.
At DHL Mortgage our goal is to do more than help you with your next transaction or referral, we want to become your mortgage broker for life.
We want you so happy with the service that you received that you will always think of us as your trusted advisor in your corner 24/7/365 as you face financial decisions regarding any mortgage related question.
We want you so happy with the service that you received that you are more than happy to refer us to the people you care about as they go on through life as well.