Massachusetts Real Estate, Worcester County Ma

Mortgage Originators

Many of us do not have the funds available to purchase homes outright.  We look to lending institutions for assistance.  Before you start your home search, you need to know how much you can afford.  Start the process by getting a Pre-approval from a reputable lender. 

When you find the home of you dreams, it is time to research lenders and rates and ultimately apply for a loan.  Upon application, you will need:

• A copy of the executed sales contract, as well as copies of all cashed earnest money checks (front and back).

• Copies of driver’s license and Social Security card.

• Name, addresses (if available), account number, balances and minimum monthly payments of all installment and revolving accounts.

• Addresses of residence(s) for the past 24 months accompanied by the name and address of the mortgage company or landlord for the past 24 months.

• Full names and addresses of employers for both the borrower and the co-borrower for the last 24 months.

• Employment Pay stubs for the most recent month for the borrower and co-borrower.

• Previous two years W-2s for both the borrower and co-borrower.

• Self-employed borrowers need the last two years tax returns with all schedules, year-to-date profit and loss statement and a balance sheet.   (Original signatures required.)

• If you are in sales or you are a salaried employee, receiving bonus or commission income in excess of 25% of your total income, then you’ll need to supply the last two year’s tax returns with all schedules.

• Names, complete addresses, and account numbers of all bank accounts (checking, savings, money market, 401-K), stocks, IRAs, mutual funds, bonds or other investments.   Also include the most current three month’s bank statements or the two most current quarterly statements for each account.

• Addresses of other real estate owned and copies of leases if applicable.   Also, name and address of mortgage company or note holder for all investment properties.

• If applicable, your divorce decree and proof of receipt of child support.

• A check for the credit report and appraisal (Application Fee).

• A copy of HUD-1 Settlement Statement on any property you have sold in the last two years.

• DD214 Eligibility for VA benefits or a letter from you commanding officer.

Tim Moore

Gateway Funding

Phone: 877-524-6660

Fax: 508-528-2815

111 East Central Group

Franklin, MA  02038