Anna Babineaux, General MortgageAssociate Lending  Integrity Seal of Approval

Applying For a Loan

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This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over life of loan, reduction in payments may reflect longer loan term. Terms of the loan may be subject to payment of points and fees by the applicant. Company NMLS#129122. Equal Housing Lender.

During the course of a loan many items will come to the client by mail or phone:

  1. Truth in Lending, Good Faith Estimate, etc. - sign and return forms to me
  2. Credit Report - review for accuracy and respond to any derogatory items in writing. Explain and document these items. Someone from the credit agency may call you direct.
  3. An appraiser may call to set an appointment to inspect the home. If you currently live in the home you are purchasing or refinancing, or you the appraiser may meet you at the property to accept a check for service and perform the appraisal.
  4. As we progress through the loan, additional paycheck stubs, bank statements or other information may be required. Please keep your processor and/or loan officer current on these items.
  5. During the first two weeks of loan processing, contact your insurance agent to issue a quote for home insurance. Fax a copy of the binder to me. 866-569-6019. Remember no insurance is written when a storm is in the Gulf of Mexico. Condos are insured by the Association.
  6. Once approved the underwriter may have additional questions. They will need to be addressed at once.
  7. Once approved, a termite inspection may be required, if purchase money.
  8. A cashier's check payable to the title company will be required at closing.
  9. Please spell the title company's name exactly as it appears on your title commitment.
  10. BRING A PICTURE ID TO THE CLOSING

A home loan requires patience and persistence to complete properly and timely. I appreciate both and promise to complete your transaction in timely and professional manner.

FINALLY: I promise to serve you faithfully and ask you to refer at least two friends, relatives or co-workers to me during this transaction. Please be on the look out for these referrals. When your loan closes, I will ask you to write a testimonial regarding how well I did. I will share your testimonial with future clients and use it in advertising. Thank you.

Very Important Note: Please do not make any financial changes without informing me or your processor BEFORE making any changes. Examples would be increasing, paying off or transferring debts, changing employment, or switching banks. Finally, be sure to continue paying all monthly expenses in a timely manner.

Complete, read and sign the Authorization to Obtain Credit. Please list as many assets as possible on the Authorization form, even if an attachment is needed. Assets are defined as cars, boats, motorcycles, jewelry, household furnishings, retirement accounts, checking, savings, cash value life insurance, real estate and more.

Review the “Items Needed” at time of loan application list and provide as much of this information as quickly as possible.

Review the “Types of Turbulence” which offers a humorous view of the things that can impact buying a house; bear in mind that most files encounter fewer than three and are usually easily remedied when you use me as your pilot.

All forms may be mailed to 306 W Edgewood, Suite F Friendswood, TX 77546 or forms and documents may be faxed to 866-520-6019

CHAMB

NAMB

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By Referral Only

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