Complete Documents 

Submit the sales contract for approval

In order to alleviate any potential problems with the sales contract on your home, you must formally submit it to your lender for approval. When the lender receives the contract, it will be carefully evaluated for details such as sales price, loan program, closing date, seller contributions, title issues, repair issues, and deadlines. Getting your contract reviewed by the lender as quickly as possible will help contribute to the “flow” of the transaction, and can make the process of closing your loan faster and more efficient.

Submit Additional Documents

Once you have submitted the contract on the home that you wish to buy, you may need to submit personal documents to qualify for your mortgage. If you’ve already been pre-approved, you will be ready to undergo final underwriting, but some documentation will be needed. If you have not been pre-approved, documentation will be required so that Guardian Mortgage Inc can conduct a formal evaluation of your ability to repay the loan.

Items you will be required to submit will include, but may not be limited to:

•  Recent 2 pay stubs with in 30 days
•  W2s and/or tax returns for recent 2 years
•  Your most current bank statements for 2 months
•  Information on your places of residence for the last two years, including the names and phone numbers of your landlords (if applicable)
•  Contact information for your employers for the past two years
•  Information on all loans that you have open – this should include names of creditors, your account numbers, your monthly payments, and loan balances
•  Divorce decree (if applicable)
•  Bankruptcy discharge papers (if applicable)
•  A ratified purchase contract signed by all parties for the property you are purchasing
•  A ratified purchase contract signed by all parties for the sale of your current property (if you are selling your current home and buying new home)
•  You may also need to include payment for a home appraisal and credit report. An Guardian Mortgage Inc’s loan professional will provide you with details on this.

Note: If you are refinancing your current property instead of buying a new home, you will need to supply the following:

•  The original title policy on the property
•  A copy of the declaration page of the homeowner’s policy
•  Your most recent mortgage payment statement
•  Recent 2 pay stubs with in 30 days
•  W2s and/or tax returns for recent 2 years
•  Your most current bank statements for 2 months

Once you have submitted all the required information, Guardian Mortgage Inc’s  processing department will take steps including (but not limited to) the following:

•  Verify employment with your employers
•  Verify bank statements with your banks
•  Verify your liabilities by ordering a credit report
•  Order an appraisal to verify the value of the property that you wish to purchase
•  Verify legal ownership of the property that you wish to purchase

Your application will then go to one of our Lender’s underwriting department, which will take the following steps:

•  Evaluate the loan package
•  Verify that both the loan and the property meet guidelines

Note: Based upon the underwriting evaluation, your loan may need more verification, and may go back to the processing department. Your Guardian Mortgage professional will inform you if this is the case. Once your application has cleared the processing and underwriting departments, it will proceed to the closing department and you will be ready to close your loan and purchase your new home.