What will the lender ask...

...The first thing the buyer should understand is that most loan officers want to make the loan as much as the buyer wants to get the loan. The old-fashioned concept was often considered adversarial; the buyer with hat-in-hand and the lender in a very big chair! No more. The application process should be informative. The loan officer should take the time to explain every detail and answer all of your questions. Remember - The only "dumb" question is the one you didn't ask.

NOTE: If the loan officer isn't patient and informative - find a different one! The following is not an application. It is a guideline for you. This shows you the information necessary to expedite your loan application. You can also check out an Amortization Table. Contact your favorite lender for more information.

Some of my favorite loan officers:

Home Loan Corp.

Ray Bob Frizzell

830-896-0080

JPC Financial

Tamara Brown

830-792-4848

Norwest Mortgage

Penny Carrell

830-257-2500

Required from the Applicant and Co-Applicant <Picture> •Copy of fully executed Sales Contract including all amendments. •Address of residences for the last two years. •Employers' names, addresses for last two consecutive years (including dates of employment & monthly income). •If you were a full-time student at any time in the past two years, please bring a coy of your diploma or transcripts. •Your copy of W-2's for the past two years and most recent check stub. •If self-employed; provide Financial Statements:

a. Year-to-date Profit and Loss Statement & Balance Sheet prepared and signed by an accountant and you.

b. Signed tax returns for the past two reporting years.

•Social Security Numbers of all applicants. •Current names, addresses, account numbers, zip codes and balances for:

a. Checking and Savings Accounts

b. Credit Unions

c. Present Creditors (car loans, charge accounts, student loans, alimony, child support, child care expense.)

d. Present Mortgage Lender or Landlord.

e. Most recent two statements of assets; stocks, bonds, life insurance, etc.

f. Provide last three bank statements and/or passbooks.

•Documents related to the following: (with letter explaining circumstances)

a. Judgments: provide copy of release/satisfaction

b. Bankruptcy; Provide copies of:

1. Petition for Bankruptcy.

2. Schedule of Bankruptcy. (List of Creditors)

3. Discharge of Bankruptcy.

c. Other delinquent credit of record.

•Check for the Application Fee. •Contract of Sale of Present Home (if being sold). •Schedule of real estate owned: Name of Lender, Account number, Original purchase price, Principal Balance, Monthly payment, Rental Agreements (Leases), Type of Property, etc. •If you are a VA Applicant we will need the following: •Certificate of Eligibility.

If you do not have a Certificate of Eligibility you will need to bring copies of your Discharge and Separation papers (DD-214) so we can apply for a Certificate of Eligibility. •Name and Address of Nearest Living Relative.

<Picture>Required from the Broker <Picture> •Copy of Seller's Title Policy (for exact legal description). •Old Survey. (For exact legal lot size). •Copy of Listing Sheet or property information sheet. •If on well and/or septic--order Health Authority Approval. •Names, addresses and phone numbers of all parties involved in this transaction, including attorneys.

•You will be required to complete an application form asking for some of the following information:

1. Applicant

You'll be asked for your name, Social Security Number, Age, Number & ages of dependents., addresses of residence for the past two years.

The employment history for the past 2 years will be requested, including position, # of years worked and gross monthly income.

2. Co-Applicant

The same information as the Applicant will be needed.

3. Other Income

The source and monthly amount of other income will be requested. Bring supporting documents such as leases, divorce decrees, W-2s, paycheck stubs, etc.

4. Source of Down Payment & Closing Costs

You will be asked to verify the monies used for the closing. If any part of this is from a gift, your loan officer will advise what to provide.

5. Bank Accounts

Included credit unions, S & Ls, etc.

The Name of the Banks, Account #'s of checking and saving accounts will be needed.

6.Stocks, Bonds or Other Securities

Provide the Name of Stock, Amount per share, Number of shares, or you may wish to bring a current brokerage statement.

7. Insurance Portfolio

You'll need the amount of your Employer Insurance, and the other insurance coverage you have.

8. Vehicles

You'll be requested to provide Year &Make and Value of all vehicles, including Autos, Trucks, Campers, Boats, Trailers, etc.

9.Present Creditors

This will include car loans, charge accounts, student loans, child support, alimony, etc. Names, Addresses & Account #'s, of these creditors will be necessary.

10. Lease or Mortgage Information

Provide name of landlord or lender, including rent payment or the date purchased, and the balance owed, monthly payment, original balance and type of loan.

11. Other Real Estate Presently Owned