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With MFN Mortgage
If You are doing a stated income stated asset loan, call us, as some of these requirements do not apply.
We are brokers. We have many sources, and can shop or try several lenders with your well done loan package. We know how to package them well, but your hard work right up front can help us do this for you quickly and efficiently. Follow these steps. We also can do a loan totally by phone, fax and email, making it easy for you. The steps below take 25-30 minutes for most people, unless you cannot find something. Just get us what you can right now.1) Pay for your credit report in the amount of $18.00. This is important. It is easy to do, use this webpage and mail it or use a credit or debit card online. Do so here!2) Fax us for each borrower at 916-543-3102 your last 30 days paystub, if paid monthly, that is 1 stub, or if paid bi-weekly or twice monthly that is 2 stubs.3) Fax your last 2 year's W-2 forms. (05 & 06) Do not fax tax returns unless you are self employed.3) Fax 2 months of bank statements, either printed from online or the actual statements. They have page numbers, and underwriters do not like missing pages. Get us 2 months of savings, checking, etc.4) Fax any statement you have of retirement, 401K's, stocks, or cash values in insurance policies - extra assets shown are very helpful even if they are not liquid assets. Retirement like PERS can be counted at 70% on the dollar.5) Fax us the Declaration Page of your homeowners insurance, the one that shows the annual amount and coverage time, from the start date to the end date. If you are a buyer, and have an insurance agent you want to use, get us their name and number. MFN also has a regular agent we use and can refer to you.6) We will not order your appraisal until we have seen your credit report and all this documentation. Then, and only then, we can mutually agree to send the appraiser, who will need a check for $375 from you on the day he is there! This fee can be charged to the equity by an upfront agreement with MFN, but then we wait until loan approval to order it, which costs extra time. The borrower must also sign something saying they are ultimately responsible for the fee, whether the loan closes or not.If this process fails, we are willing to try again for you later and will even share with you a self credit repair system to raise your scores for the future. Our philosophy is that each and every person that puts their trust in us should have a chance to get a loan or get on track to get a loan.Greg NicholsBrokerMFN Mortgage916-759-2593