Mortgage Application Process
I always think it’s best to share a phone conversation — (503) 314-9959 — before jumping into an application but if you’re ready to do that here are the steps:
1) Please complete an online application by clicking HERE
2) Please sign and date the Authorization to Release Information granting us permission to access a credit report on your behalf.
3) When convenient, please gather and upload (HERE) or fax (503.296.9950) copies of the following items:
- A copy of your driver license is needed, as well as that of the co-applicant, if applicable.
- If you are a W-2 employee, we will need all W-2s for the last two years as well as those of the co- applicant, if applicable. If you have worked at your current job for less than two full years, we will need W-2s from all your previous jobs. **Please Note: If you have any non-salaried earnings (i.e. Varied hourly income, bonus, commission, overtime, ) we will likely need to obtain a Verification of Employment to be able to use this additional income. Please provide the contact name and phone number for the person we may contact to get this information or a salary key from your HR department if your company utilizes the work number.
- If you receive a paycheck (both W-2 and self-employed, if applicable), we will need your last, and most current 30-days of pay stubs for both you and the co-applicant, if applicable.
- If you are self employed (or receive consistent bonuses and/or commissions), we will need your federal tax returns for the previous two ye Depending on how your company is held, this will include all applicable schedules such as your 1099s, Schedule C, E, and/or your K-1s.
- Full copies of your last two months of asset accounts, such as checking, savings, and retirement (please be sure to include all pages, even boilerplate pages i.e. if your statement says page 3 of 4, we will need all 4 pages). If your retirement statement or any other statement is quarterly, then the most recent statement will suffice.
- If you own other real estate in addition to the subject property (such as a second home),we will need a copy of the most recent mortgage statement for each property. Also, if you have investment properties, we need the mortgage statement for each property, a copy of your federal tax returns for the previous two years, with Schedule E included, and a copy of the lease agreement for each property.
(Note: Other items may be needed. )
Evan Swanson is a licensed mortgage professional with the ability to act as a mortgage broker and mortgage banker. If you are interested in working with Evan on the purchase of a new home, refinance, or simply want to explore your options please don’t hesitate to contact him.