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Financing Roadmap



Jo Ann Webley CRS, CDPE, CLHMS
Direct: 602.579.5300



Cheryl Martin ABR, CDPE,
REO Certified
Direct: 602.619.5300

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Financing Roadmap

Mortgage Brokers and Lenders – Who Does What?
The mortgage broker is the person or company who is your main contact throughout your loan. They are often able to work with a number of lenders, who actually provide the funds for the loan. Typically, the lender pays the mortgage broker a fee for acting as the intermediary and providing all the customer service.

Filling Out the Application
There are standard forms to be completed when applying for a loan. Some mortgage brokers keep these on their website so you can fill out and submit the forms on line. The information will be verified and used to qualify you for your loan, so take the time to answer questions accurately.

Documentation
The mortgage broker will need copies of the documents you began gathering in the first phase of the loan process, including:

    Either 2 years of W-2 forms from your employer or 2 years of tax returns if you are self-employed
  • Recent pay stubs
  • 3 months bank and money market statements
  • Brokerage, mutual fund and retirement account statements
  • Proof of other income sources (alimony, trusts, rental income, etc.)
  • Credit card statements
  • Auto /boat / student / miscellaneous loans
  • Drivers’ license or form of ID
  • If you’re not a US citizen, then copy of your green card or visa
  • Copy of any existing mortgage debts if you are applying for a home equity line of credit or another mortgage

Stay in Communication
The lender will have an analyst, usually called an “underwriter”, crunch your numbers and verify your documentation to confirm your ability to repay the loan. Once you are in contract on a property, there may also be a loan approval committee which will meet to review the underwriters’ conclusions regarding your creditworthiness, and to evaluate the property on which they are lending. This is called the underwriting process, and questions are bound to arise. Be sure to return your mortgage broker’s calls promptly to keep the process moving forward smoothly. Check in with your broker periodically.

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© 2017 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Information deemed to be reliable but not guaranteed. Real estate listings held by brokerage firms other than RE/MAX Alliance Group are marked with the ARMLS logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Only IDX residential listings are displayed on this site. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify perspective properties consumers may be interested in. This site will be monitored for 'scraping' and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. Information last updated on 2017-07-27.

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Jo Ann Webley & Cheryl Martin
Your Double Agents

RE/MAX Alliance Group
The Premier Office
725 W Elliot Rd., #111
Gilbert AZ 85233


Jo Ann Webley
Owner/Associate Broker
CRS, ABR


Direct: 602.579.5300
JoAnn@YourDoubleAgents.com


Cheryl Martin
ABR, REO Certified

Direct: 602.619.5300
Cheryl@YourDoubleAgents.com

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Jo Ann Webley & Cheryl Martin - "Your Double Agents"
RE/MAX Alliance Group - 725 W. Elliot Rd., #111 Gilbert, AZ 85233 | Contact 602.619.5300