1. If you are moving money around in various accounts in anticipation of closing, please let us know. We need to have a “paper trail” for such transactions.  It is easier to obtain this as it is happening than it is later on in the last few days before closing. 

  2. If you plan to close with a legal instruments such as a Power of Attorney or a Quit Claim Deed, please let us know.  These documents are best prepared at the beginning of a transaction when all parties are present. At this point we will have enough time to have them executed, approved and easily implemented at the close of the transaction. 

  3. Do not quit your job or change careers during the course of this transaction, such action will put your loan in jeopardy. 

  4. Don’t make any large credit purchases during the course of this transaction (vehicles, furniture, appliances).  Such an action puts at risk your loan approval and at the very least causes a time delay. 

   5. If you are closing with the benefit of an Employee Relocation Package, we will need the following:

• Copy of your contract, offer letter or employee manual.

• Name of person in your company who is coordinating the transfer.

  6. Letters of Explanation are sometimes requested regarding such things as gaps in employment, maternity leaves, late payments, collection accounts, judgments and bankruptcies. This information  provides the underwriter with information that the standard application does not provide. 

  7. If you are selling an asset to create funds to close (i.e. car or boat), we will need the following:

• Appraisal from an independent authority

• Bill of sale

• Transfer of title or registration

• Copy of check (front and back)

• Copy of deposit slip 

  8. If you are closing with gift funds we will need the following:

• Copy of the gift check (front and back).

• Copy of deposit slip 

• Gift letter should include the date of gift, the dollar amount and donor's name, address, telephone number and relationship and statement that repayment is not expected.

  9. If you are closing on accrued funds (i.e. paychecks) please provide copies of each check and the accompanying deposit slip or the appropriate bank account statement showing the deposits. 

Occasionally, conditions will arise during the underwriting process and we may need to request additional information from you.  It is important that we receive this information as soon as possible to insure that your loan funds on time.  The documentation we ask for may sometimes seem excessive, but please understand we are only requesting the necessary documents.  We want to help make the purchase of your home an enjoyable experience.