Learn about the documents are needed to evaluate a mortgage loan application.
To achieve a mortgage closing fast and safe, your customers must arrive at the bank with all the documents required to complete the loan application. It’s essential that they know the importance of the documents the bank needs. Situations are different for each customers therefore, documentation might vary from case to case.
In some cases there are income from salaries, profits from a business, rent and/or pensions. Each one of them require different documentation and if you know which one, you can provide a better orientation to your customer. This will make the process of gathering the required documents more easy when applying for a mortgage loan.
At the same time its equally important to know the type of assets your customer has to identify the documents that proves the origin of that income.
As a Real Estate Agent you must be on the lookout for important details, like knowing the registration status of a property. With the property’s deed and the documents from the CRIM, you can check out the registration status as well as taxable enabling you to anticipate situations that might arise before the mortgage closing.
It’s also important to know other situations that may affect the loan process such as: heirs, divorces, and other particularities that require additional documentation.
Here you will find a list of required documents to apply for a mortgage loan.
For more information, talk to one of our experts in Conexión Popular by calling 787.707.1720 metro area; 787.806.1170 west area and 787.812.7730 south area.