RESOURCES

Your Mortgage Resource Center

Why Work with Angie?

Starting the mortgage process is difficult for everyone, but we never want anyone to feel like purchasing a home is impossible. Angie truly believes that mortgages are for everyone. As long as you’re okay with a little hard work and patience, she’s happy to work with anyone that wants her help. The first step is the hardest, but we’ll be here to help you along the way.

20 Years Experience

Around the Clock Support

21 Days Average Loan Closing

4.9 out of 5 Star Reviews

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Preparing for the Loan Process

Items Needed for Pre-approval

W2s from the last two years
1040 Federal Tax Returns from the last two years (all pages)
If you are a business owner, you will need business tax returns and K1s
2 most recent paystubs
2 months of recent statements for all assets (checking, savings, money market, retirement, etc.)
Driver’s license or passport
Other documentation may include: offer letter for employment, school transcripts, social security or pension award letters, divorce decree, bankruptcy papers, short sale documentation.

Download Mortgage Loan Process Guide

Pre-Qualified vs Pre-Approval

Two parents with kid putting money in piggy bank

Pre-Qualified

Getting Pre-Qualified involves supplying us with your overall financial picture, including all debts, credit, income and assets. We will review everything and give an estimate of how much you can qualify for. Pre-Qualification can be done over the phone or online and there is no cost involved. Pre-Qualification is quick, usually taking just one to two days. Keep in mind that loan Pre-Qualification does not include an analysis of your supporting documentation. It is based solely on the information you have provided verbally and/or online for your application.

Pre-Approval

For an official Pre-Approval letter, you will need to supply us with all the necessary supporting documentation that was requested on the “items needed list.” We will then review and validate all documentation supplied and provide you with an official Pre-Approval letter. Going through the Pre-Approval process puts you, the buyer, in the strongest position possible against the competition, when making offers on homes. In our intense buyers’ market, sellers are only considering serious buyers who have done their due diligence and are fully pre-approved.

Mortgage Loan Process

We work with you to come up with the very best solutions for your challenges!

1

Apply at www.AngieSherer.com.

2

Once application is received, we will be in touch with a list of documents needed to complete your pre-approval.

3

Set up a time to consult with a member of the Angie Sherer Team to discuss mortgage options.

4

Shop for your new home and get an accepted offer!

5

Your loan file moves into processing.

6

Angie Sherer Team will be in touch if there are any additional items needed.

7

File is approved, cleared to close and final numbers are received.

8

Closing day! Congratulations!

FAQs

Do we need to provide all of our information to get a rate quote?

We can make assumptions but prefer not to since once we get your information it can change. There are over 25 different variables that go into the rate. Top variables are credit score, loan amount, loan compared to value, occupancy, and how much or if you want to pay what is called “discount points” to buy the rate down.
How long is a preapproval good for? How long does it take to get pre-approved?

Preapproval is good for 120 days. After that, information will have to get refreshed to extend that time. Preapproval can get done as quickly as one day or may take up to a week depending on how long it takes to receive your required information.
What are the closing costs?

The closing costs are mostly fixed costs associated with getting the loan. In addition, there are some variable items to set up escrow to pay for taxes and insurance at closing. Also, potential points to buy down a better interest rate or lender credit for a higher rate.
What happens at closing?

Closing is typically 45 minutes. You will be required to bring your funds (cashier’s check or send a wire prior) to closing. You will sign all required documents and will have the opportunity to ask questions. You’ll receive your new keys and you’re ready to move in!