| Ask about PAID Closing Cost Option! |
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We at Seaside Mortgage want to work with the least documentation required to get the lowest possible rates for you. So, if
your loan professional requests a certain piece of documentation, its purpose is to get you the lowest rates and close your
loan as quickly as possible.
The lowest mortgage rates in the country are associated with "Full Doc" loans. There can be very little or quite a bit of
documentation required for Full Doc loans. The Fannie Mae or Freddie Mac Feedback Certificate calls for what
documentation is required on "A" paper loans. Fannie/Freddie computer models look at the borrower's credit history and
scores, loan to value ratio, debt ratios, used versus available credit, property type, loan type and loan purpose. The exact
same borrower might be required to provide very little documentation on a rate/term refinance on their principle residence
but be required to provide much more documentation on a cash out refinance on their investment property. For specialty,
Alt-A or "B/C" loans, the lenders have special conditions and guidelines on what documentation is required.
When income docs, bank statements or tax returns are required, copies or faxes are usually acceptable if legible, no
white-outs or black-outs and have specific identification. Bank statements must be ALL PAGES, even if the last page is
blank or contains only common information! If tax returns are required, they must be copies of the returns as filed, signed
and dated with ALL pages and ALL schedules, 1099s and W2s (unless your loan consultant specifically states only page 1
and 2 of 1040 is required).
Special note for divorced or separated borrowers: Plan on needing fully signed and recorded Property Settlement and/or
Decree. Ask your loan consultant.
Your mortgage professional will request the proper title search, title binder, wiring instructions, chain of title and/or Warranty
Deed from your closing attorney. Also, we will order the proper appraisal to meet loan guidelines and request the
necessary changes to the loss payee clause on your hazard insurance.
Save even more and apply online now!
* Deepest cuts for loans with Fannie Mae Approve/Eligible and Freddie Mac Streamline Accept and Accept Plus. This offer does not apply to Fannie Mae
Expanded Approval levels, Freddie Mac Standard Accept, borrowers with more than three investment properties and using that income to qualify, non-conventional,
subprime or loan amounts under $100,000.
your loan professional requests a certain piece of documentation, its purpose is to get you the lowest rates and close your
loan as quickly as possible.
The lowest mortgage rates in the country are associated with "Full Doc" loans. There can be very little or quite a bit of
documentation required for Full Doc loans. The Fannie Mae or Freddie Mac Feedback Certificate calls for what
documentation is required on "A" paper loans. Fannie/Freddie computer models look at the borrower's credit history and
scores, loan to value ratio, debt ratios, used versus available credit, property type, loan type and loan purpose. The exact
same borrower might be required to provide very little documentation on a rate/term refinance on their principle residence
but be required to provide much more documentation on a cash out refinance on their investment property. For specialty,
Alt-A or "B/C" loans, the lenders have special conditions and guidelines on what documentation is required.
When income docs, bank statements or tax returns are required, copies or faxes are usually acceptable if legible, no
white-outs or black-outs and have specific identification. Bank statements must be ALL PAGES, even if the last page is
blank or contains only common information! If tax returns are required, they must be copies of the returns as filed, signed
and dated with ALL pages and ALL schedules, 1099s and W2s (unless your loan consultant specifically states only page 1
and 2 of 1040 is required).
Special note for divorced or separated borrowers: Plan on needing fully signed and recorded Property Settlement and/or
Decree. Ask your loan consultant.
Your mortgage professional will request the proper title search, title binder, wiring instructions, chain of title and/or Warranty
Deed from your closing attorney. Also, we will order the proper appraisal to meet loan guidelines and request the
necessary changes to the loss payee clause on your hazard insurance.
Save even more and apply online now!
* Deepest cuts for loans with Fannie Mae Approve/Eligible and Freddie Mac Streamline Accept and Accept Plus. This offer does not apply to Fannie Mae
Expanded Approval levels, Freddie Mac Standard Accept, borrowers with more than three investment properties and using that income to qualify, non-conventional,
subprime or loan amounts under $100,000.
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| Where good credit is rewarded and damaged credit is rebuilt. APPLY ONLINE OR CALL NOW! Toll Free 866.452.0876 910.452.0876 Ext. 118 Ask @ PMI tax deduction! Email us |
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