Preparing your First Meeting with a Miami Mortgage Broker
After you have been pre-approved and have decided on what home to buy, you want to begin the mortgage approval process. This process begins with a first interview where you and your Miami mortgage lender talk about your different possibilities.
In the first meeting, the mortgage lender will help you complete a 1003 mortgage application form. To accelerate the mortgage approval process, you will need to have several papers that are required for the approval of the Miami mortgage:
- A purchase contract for the house (if you already have one)
- Your bank account numbers and the your bank’s address, along with checking and savings account statements for the last 3 months
- Pay stubs, W2 withholding forms, tax returns for two years, or other proof of having a job and income proof
- Credit card bills for the last few billing periods, or canceled checks for rent or utility bill payments, to show payment history and amount of revolving debt
- Data on other regular debt such as car loans, student loans and store credit cards
- Balance sheets and tax returns, if you own your business
- Any gift letters, if you are taking a monetary gift from your parent or relative or other organization to pay for the down payment and closing costs. This letter has to show that the funds are truly a gift and will not have to be paid back.
By taking with you those items when visiting your Miami home mortgage broker, you will help speed up the mortgage application process.
Also, you may have to give an appraisal fee which will cover the obligatory appraisal of the property you want to buy.
Once you attend your first reunion, you ought to have an answer within 48 hours. In most instances, you may “forget” about the mortgage application process and go on with your life while your Miami mortgage loan broker works hard at obtaining the loan for you.
Tags: miami fl mortgage, miami home mortgage, miami mortgage, miami mortgage loan