Step 2 in the approval process is the purchase, you now have an accepted offer and ready to get to the approval stage. We have already met with you, assessed your situation, gathered income documents and have most likely pulled a credit report. This gave us some initial information which would have been enough to advise you could go house hunting and given you a range of what you can afford to buy to meet the lender debt ratios used.
So, you have an accepted offer, you need to bring that in along with the Listing sheet. We will advise of any updated documents required such as more current paystubs, an employment letter if we have not received that as of yet and proof of the down payment. We now have the actual amount of your purchase price so can update your application and get it ready to send to the lender. As each situation can be different there will be different documents as each mortgage is different compared to the client situation. We will go over this step in detail with you as now your deal goes to the lender we have chosen for their approval. It is important for us to get as much information as possible in order to expedite the process with the lender, I will step you through that and keep things as simple and pain free as possible, that is what we do. It is now in the hands of the lender!!!
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