Loan Application

Fast, smooth and no surprises. Keith handles everything for new mortgages or refinancing right here in the Fairfax office. This direct control over the mortgage process gives him direct power to secure the best rates on the right loan for you, and to meet “impossible” deadlines and address issues that might otherwise derail your application.

A trusted advocate in a tough new mortgage climate. Keith has been with Intercoastal here in Northern Virginia since 1995. He knows lending, he knows the local real estate market, and he knows that missing a closing date or getting the wrong loan can cost homebuyers a fortune. That’s why he takes a very different approach than banks, mortgage brokers or Internet home loan programs.

Mortgage Application Checklist (print version)

INCOME:

• Name, address and phone numbers of all employers for the last 2 years.
• Name and phone number for verification contact at present employment.
• Letter addressing any gaps (longer than 1 month) in employment in prior 2 years.  If you have had multiple jobs in the past two years it would be a good idea to address this.
• Relocation transferees: Letter from employer giving date, salary, location change, and any relocation benefits (paying closing costs, etc.).
• If starting a new job: Signed Offer Letter indicating start date and annual salary/compensation.
• Past 2 years of W-2 forms.
•  Copy of past 2 years of Personal Federal Tax Returns including all schedules.  If you have filed an extension, provide a copy of the extension request. 
• Last 30 days worth of paystubs.  If military, copy of last 30 days of LES statements.
• If self-employed or receiving commission/bonus income, last 2 years personal federal tax returns including all schedules/K1s. 
• Recent benefit statement on social security, pension or military retirement.
• Diploma/transcripts if student in last 2 years.

ASSETS:

• Last 2 months of statements on all checking and savings accounts (all pages of actual statements; if using Internet, please download actual statements).
• Letter and documentation addressing any large bank deposits (over $1,000) that were not payroll-related reflected on statements provided.
• Last 2 months statements on all mutual funds and brokerage accounts (all pages of actual statements; if using Internet, please download actual statements).
•  Last 2 months (or most recent quarterly) statement on 401(K), government TSP, ESOP, or IRA accounts (all pages of actual statements; if using Internet, please download actual statements).
• 401(k), TSP or other retirement plan loans: documentation of payments/balance.
• Gift Funds:  signed gift letter (can provide) and copy of cancelled Donor’s check (front and back) or wire transfer receipt showing the gift funds clearing the Donor’s account. On FHA loans must also provide the Donor’s most recent bank statement the gift funds are coming from. Once funds are deposited into your account, provide a transaction summary from your account showing funds clearing with new balance.

MISCELLANEOUS:

• Address of residences for past two years.
• If separated or divorced: copy of complete separation agreement and, if divorced, copy of Divorce Decree in addition to Separation Agreement. 
• If using child support/alimony income, need evidence of receipt of support payments for last 12 months (ex: bank statements; copies of checks; letter from social services, etc.)
• If own rental properties: current lease agreement and last 2 years Federal Tax returns.
• If own current residence or other residential property, copy of most recent mortgage statements.  If existing mortgages do not include escrows for taxes/insurance, or if property is owned free and clear, provide most recent real-estate tax bill and homeowner’s insurance bill. 
• If own current residence or other residential property, provide documentation confirming HOA or Condo Fee amounts (pages from coupon book, recent statement, payment history).  This documentation must be from the HOA or management company.  
• Properties sold recently or to be sold: sales contract with Estimate of Net Proceeds Worksheet (Realtor can prepare) or signed Closing Disclosure/ALTA HUD-1 settlement statement if already settled.
• If Permanent Resident Alien: Copy of green card. If Non-Permanent Resident Alien: Copy of visa with any supporting documentation from INS showing legal status.

REFINANCES

• Recent statements on mortgages to be paid off
• Copy of homeowner’s insurance policy on subject property

QUESTIONS?

• Call Keith Brown: 703-929-5274 day, evening, or weekends
• Email Keith Brown