Loans By Kathy: August 2013

"But that's personal information, I would rather not send it."

 

"But that's personal information, I would rather not send it."  This is direct quote from a client that I spoke with earlier today.  Here is what any mortgage applicant must know:

  1. We will look at your tax returns and verify that it is the same information sent to the IRS
  2. We are going to verifiy your income through your pay stubs, and written verification of employment by your Human Resources Manager.
  3. We are going to review your bank statement for enough funds for closing.  Other items that will be reviewed are any returned checks for non-sufficient funds.  Are your savings commensurate with your earnings.

Yes this is personal information, but you are asking for a loan for thousands of dollars.  We are going to do our homework to evaluate your ability and likelihood that you will repay this loan.  It matters not if you apply for a $100,000 or $1,000,000.

 

But that's personal information, I would rather not send it. Better rethink that statement if you want your loan closed.

 

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Kathy Sheehan Senior Loan Officer

P:

770.634.4021

F:

404.745.8060

 

Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988


 

 

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

Comment balloon 20 commentsKathy Sheehan • August 26 2013 05:07PM
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