Loan Preperation

To ensure that your mortgage application will be processed as quickly as possible, it is important to bring all the proper information to your loan consultation. Keep in mind that you maybe require to pay an application fee, credit report fee, and the appraisal fee when you submit the mortgage application. We understand that it can be confusing and stressful for you during this process, so we have provided a Loan Application Checklist to help you stay organized and on top of things.

What We Need From You?

United Residential Loan Application (Form 1003)

Download the United Residential Loan Application (Form 1003) and fill in your personal information as best to your knowledge.

Bring Income Documents:

  • Tax Information - Prior 2 years history is required
    • W-2 for Non Self-Employed borrowers
    • Complete Tax Returns for Self-Employed borrower
  • Paystubs
    • One month's paystub is required
    • We will need to see a steady 2 years work history (If you have worked for the same employer during the prior 2 years, your tax return  information will be suffice)
    • We will need to perform a verification of employment. Thus, provide the phone number for your employers human resource department during your term of employment in the last 2 years.

Asset Documentation

We will be looking for proof that you have the reserves to make your payments in the scenerio that you might suddenly lose you job and that you will have the avaliable cash to conduct the closing

The proof that you will need depends upon whether or not you will be providing cash during the closing.

  • Reserves:

Depending on the type of mortgage loan program you choose, you will need to show proof of anywhere from 1 to 6 months of mortgage payments available as liquid assets. We will assist you in deciding what the individual requirements of you program may be.

This proof can be in the form of:

    • Bank Statements (usually 2 months) or
    • 401K Statement
    • Cash for Closing:

We will need proof that the cash belings to you and that it has been in your possession for at least 90 days. If you have had the money in your bank account, then your prior 3 months bank statment will be suffice.

If the money hasn't been in your bank account, then we will need proof of where the money originated. This can be in a form of deposit and withdrawal slips of when you had transferred the money between accounts to obtaining a gift letter from a relative that gave you the money.Should you be in the latter category, please be truthful about the situation. If will save you some time and help us help you in determining the exact requirement and documentation that you will need.


Proof of Insurance (Refinance Purpose Only)

We will need a copy of your Homeowners Insurance Policy showing the account number and the declarations.

This will be used to determine if your policy is paid up to date and the amount required for your escrow account, should you have one in addition to deteremining whether you qualify for the mortgage.

If you are taking cash out, then the policy will need to be insuring your real estate for at least the amount of your new mortgage.

Legal Description of Property

You can bring a recent property tax bill or a copy of the survey done when you purchased your home.

This will be used for your title insruance and to determine if there are any past due amounts on your property tax. (Refinance Purpose Only)

If you are just purchasing your home, make sure to bring the name and number of the realtor with you or have them send/email these items to us.