|
|
 |
|
Your monthly mortgage payment generally should not exceed
28% of your gross monthly income, 36% when you include your other monthly debt. This is
only an estimate. Often times we are able to find ways to help you afford more than you
thought possible. Our mortgage team will work out a plan that best fits your financial needs.
For help in determining how much mortgage you can afford click on our Mortgage Calculator link on the right.
If you're in the market for a home, may we suggest completing our quick pre-qualification
application. This will help you determine the amount of mortgage you may be approved
for and allow you to shop with confidence within a pre-determined price range.
Our pre-approved program determines the amount of mortgage you qualify for and provides a 60 day
commitment for your full mortgage amount, subject to standard commitment letter conditions, down
payment requirement, and property location. Contact us to get started.
|
|
Our trained home mortgage team is committed to processing your loan application quickly and efficiently.
When you are ready to meet with us, collect the following information and bring it with you.
Be sure to include both borrower and co-borrower information.
- W-2 statement(s) for the last two years
- Last two years signed Federal Income Tax Returns with all schedules
- For self-employed, last two years Business Tax Returns; year-to-date Profit and Loss Statement
- Most recent pay stub(s)
- Name and address of your employer for the last two years.
- Name, address and telephone number of landlord, if applicable
- List of assets - what you own: value of vehicles, make, model, year; cash value of life insurance policies; etc.
- Two months Bank Statements; current balances and account number of all deposits and investments with depository institution's name and address
- List of liabilities - what you owe. Creditors' names and addresses, account numbers, monthly payment amounts, and balances; ie, auto loans, credit cards, real estate, etc. (including alimony/child support payments)
- Separation Agreement/Divorce Decree, if applicable
- Copy of the purchase and sale agreement on the home being purchased.
- Construction estimates, permits, plans, if applicable
- If you are refinancing your home, bring a copy of declaration page of your homeowners policy.
Credit-scoring gives numerical ratings to homebuyers based on credit history. It helps to determine your mortgage eligibility.
Below are some credit-scoring tips to note:
- Refrain from ordering any furniture or appliances before closing.
- Do not get new credit cards or have any stores run a credit check prior to closing.
- PAY ALL CREDIT OBLIGATIONS ON TIME!
- Pay off and close any unnecessary accounts in advance of your home search.
- Keep at least one of your oldest credit cards to show a long credit history.
- Shelby, 106 South Lafayette Street, (704) 484-6215
- Kings Mountain, 300 West Mountain Street (704) 739-4782
- Gastonia, 529 South New Hope Road (704) 865-1233
While our Mortgage Loan Officers are at the locations listed above, they would welcome the opportunity to meet with you at any other Hometown Bank location.
|
Click here to return to top of page.
|
|
|
|
