The Colorado MORTGAGE PROCESS

We have broken the Loan Process into 4 easy to understand steps.

 
Colorado Pre-approval:  Apply Online, in person, or by phone. We will Pre Approve you within 15 minutes. If needed, we will present you with a letter of pre-approval that you can give to your real estate agent or to the sellers.

Loan Processing for Colorado:  A Title Commitment / Appraisal & Survey may  be required. Once we have received the necessary documentation (paystubs, bank statements, rental history, etc....) from you, we will check to ensure everything is in order for expedient final loan approval.  We have many reduced documentation loans.

Colorado Final Loan Approval:  The loan is then reviewed by an Underwriter for final Approval and closing instructions are sent to the title company.

Close/Funding in Colorado:  This is where you will meet at the Title company to sign final documents. After closing, it takes 1-4 hours to fund purchases and 1-3 days for refinances.

Generally Required Documentation
Refinances require less / Better credit requires less

Bank Statements
Last three (3) months of consecutive statements (when cash reserves are required)
Sales Contract
Sales contract on purchase.
Pay Check Stubs (last full month)
IRA, 401K, Stocks, Bonds, Etc.
Most recent statements showing balances for the last three (3) months or two (2) quarters (when cash reserves are required)
Insurance Agent
Name, company, and telephone number
Appraisal Application Fee
$325(most homes)
W-2's and/or 1099's (last two years)

Supplemental Information
[needed when applicable]

Complete Tax Returns (last two years) Cancelled Rent Checks (last 12 months)
Final Judgement
Divorce and/or child support, fully executed.
Landlord
Name and phone number(s).
Final Bankruptcy
Discharge List and copies of all included debt.
Leases
Current copies on each property.
© Copyright 2001-2012 Coloradohomeandloan.com
Colorado Real Estate - Contact Us - Site Map
#