Although the national news regarding mortgage loans has been negative (notably due to sub-prime loans -see footnote), reality has proven that many of our lenders are ready and willing to provide mortgage loans. So whether your in the market for a new mortgage home loan or the refinancing of an existing loan we have lenders with programs to fit your needs.
Although the mortgage lenders have tightened the requirements for acquiring a mortgage loan, the buying or re-financing of a home in today's market can be just as easy as days-past, it just requires more paperwork on your part. In today's lender market you typically need to provide financial documentation, essentially describing your ability to pay. This type of financial documentation is referred to as 'full-docs'.
The term - 'full-docs' - in the mortgage industry refers to the applicant providing the lender with a complete set of financial statements, to include as a minimum the following;
W-2 Income statements
Asset(s) statements etc., etc.
Lenders now require these financial documents to be assured of the applicants stability of, and having; bank accounts and assets, an existing job and potential of future income stability. Additionally, and where applicable, lenders may request other documents such as divorce papers, alimony payment statements etc.
Whatever your mortgage loan needs may be, we will work to provide a timely and professional solution !
Jerry's previous Mortgage Banking certification was awarded through the 'American Society of Mortgage Banking'
Prime loans on the other hand, typically require that all information contained on the application (such as employment, assets etc) is 'verified' and fully documented.
Thank you for choosing Jerry's - NewValueHomes.com