The
Colorado MORTGAGE PROCESS
We
have broken the Loan Process into 4 easy to understand steps.
Colorado
Pre-approval: Apply
Online, in person, or by phone. We will Pre
Approve you within 15 minutes. If needed, we will present you
with a letter of pre-approval that you can give to your real
estate agent or to the sellers.
Loan
Processing for Colorado: A Title Commitment
/ Appraisal & Survey may be required. Once we have
received the necessary documentation (paystubs, bank statements,
rental history, etc....) from you, we will check to ensure everything
is in order for expedient final loan approval. We have
many reduced documentation loans.
Colorado Final Loan Approval:
The loan is then reviewed by an Underwriter for final
Approval and closing instructions are sent to the title company.
Close/Funding
in Colorado: This is where you will meet
at the Title company to sign final documents. After closing,
it takes 1-4 hours to fund purchases and 1-3 days for refinances.
Generally
Required Documentation
Refinances require less / Better credit requires less
Bank
Statements
Last three (3) months of consecutive statements (when cash
reserves are required) |
Sales
Contract
Sales contract on purchase. |
| Pay
Check Stubs (last full month) |
IRA,
401K, Stocks, Bonds, Etc.
Most recent statements showing balances for the last three
(3) months or two (2) quarters (when cash reserves are required)
|
Insurance
Agent
Name, company, and telephone number |
Appraisal
Application Fee
$325(most homes) |
| W-2's
and/or 1099's (last two years) |
Supplemental
Information
[needed when applicable]
| Complete
Tax Returns (last two years) |
Cancelled
Rent Checks (last 12 months) |
Final
Judgement
Divorce and/or child support, fully executed. |
Landlord
Name and phone number(s). |
Final
Bankruptcy
Discharge List and copies of all included debt. |
Leases
Current copies on each property. |
