Five Tips You Should Know Before You Call Your Loan Officer - Mortgage Advice Boston





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Published on Jan 7, 2014


Hi! My name is Philip Ganz and I have been one of the top producing loan officers, in the nation, since 2001. I am going to give you five tips you should know before you call your loan officer.

Tip #1 Before you call your loan officer be realistic and have an idea of what you can afford for your monthly payments on your mortgage. Its important to know what you can afford for a monthly payment before you look for a house. Write it down. Circle it and put it on the fridge. By having establishing a target estimate you will prevent yourself from turning a need into a want and going after a home you can't afford.

Tip #2 Review your bank accounts and make sure you have two months of bank statements available for review. Do you know which bank account the down payment will come from?

Tip #3 Employment and Income. You should have two years of federal tax returns,W2s, and your last two pay stubs available. If you have had more than one job over the last two year period please know the start and end dates for each job.

Tip #4 Have an idea of what type of property you want to buy. The down payment and income requirements differ from a single family to multli family

Tip #5 Know your "legal" name. If you tell your loan officer a name different than on your credit file your credit report could be inaccurate and cause delays in the loan application process. Anything that can cause a delay in the loan process always has the potential to cost you more money as it nears time to close on the house.

I hope this video was helpful, Please subscribe to my Channel! If you want to know more about this or other important mortgage information please feel free to contact me directly!

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