In addition to the purchase price of your home, there are additional fees, referred to as closing costs, associated with a home mortgage. A Onebanc Mortgage Loan Officer will be able to provide you with an estimate of your closing costs when you apply for your loan. The types of fees included in the closing costs may include: State, county and local government fees and taxes; credit report, underwriting, application and appraisal fees; points; survey costs; homeowners insurance; and mortgage insurance if applicable.
What Documentation Will You Need To Provide
The type and amount of information you may need to provide can vary depending on your circumstances but as general guidelines the following will be required:
- A completed Mortgage Application
- Last two years Federal Tax Returns all schedules (If salaried W-2s)
- Year to Date Profit and Loss and balance sheet (If self-employed)
- Last two most recent pay stubs for all borrowers
- Copy of Drivers License (Required by Federal U.S. Patriot Act)
- Last two months asset account statements (checking, savings, 401-K)
- Current mortgage statement if refinance
- Copy of Real Estate sales contract if purchase
- Copy of divorce decree and/or bankruptcy papers if applicable
