The Steps...

First part is to get pre-approved from a member at The Mortgage Hub. There are many ways you can do that... Click the “GET APPROVED NOW” button or give any of us a call, text or email. Either option will only take you a few minutes to complete. We will give you quick feedback on three major areas: CREDIT, INCOME (debt ratio) and PROGRAM QUALIFICATIONS. Once that is completed and you are ready to move forward you will be asked to provide the below list of items:

• ​​Copies of 2 most recent pay stubs.
• Provide copies of W2s (& or 1099’s) & tax returns for the previous 2 years.
• Provide 2 most recent bank statements (all pages).
• Provide copy of driver’s license.
• If purchase provide purchase agreement & seller disclosures.

​A few other items could be required depending on application;

• Provide a settlement agreement and divorce decree.
• Non-U.S. citizens must present their Green Card or H-1 or L-1 visa.
• If you’ve filed for bankruptcy within the last few years, present a schedule of creditors, discharge notice, and filing.​

Once the above items are obtained you will sign the preliminary application papers. At this time we take over & order the title, appraisal and submit your file to underwriting. At this point you will need to secure home owners insurance. Once the appraisal comes back we will email you a copy for your records. Once your file comes out of underwriting we will let you know if anything is left to take care of or explained so we can get the underwriters exactly what they are asking for your mortgage application to be approved.

​Once all of these steps are completed... That’s when we prepare your closing documents and schedule your closing!​

Do's & Dont's of the Loan Process...

Whether buying a new home, or refinancing your existing home, the loan process is vitally important. Beyond all the paperwork, there are many factors that lenders will consider that may affect your approval. Follow the guidance below:

• DO complete your application thoroughly. The process will go faster if the lender does not need to contact you for missing information. ​

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• DO respond to all questions & requests promptly. Additional conditions may need to be cleared to help underwriters make a decision. Handle these requests quickly so that your loan can close on time.

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• DO disclose all other loans & credit on file to your TeamUFG mortgage originator. Be transparent with us so your application will not get held up.

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• DO make yourself available as your closing date approaches. Schedule plenty of time to review, sign documents, pay closing costs & your down payment.

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• DON’T make any major purchases. Buying a car, appliances or furniture may alter your debt-to- income ratio & may negatively affect your ability to make a monthly payment.

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• DON’T open any new lines of credit. This may also negatively impact your debt-to-income ratio & may harm your ability to qualify for a loan.

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• DON’T move money around in your accounts. This may appear as an attempt to hide debt or large balances. You will have to verify where the money came from to insure it wasn’t a loan you received that has a monthly payment associated with it.

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• DON’T use untraceable money. Much like moving money around in your accounts, using large amounts of cash or untraceable money may make it hard for underwriters to understand your spending habits and cash-flow.

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• DON’T make a career change until after your loan closes. It is important to demonstrate income stability. ​