Homebuyer Resources
A little preparation goes a long way.
Use these starting points to organize your questions and prepare for a conversation about your mortgage.
Documents
Documents commonly requested
The exact documents depend on your circumstances and the loan program. Your loan professional will explain what is needed.
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Employed / W-2 Borrowers
Common requests may include identification, recent pay statements, W-2 forms and account statements for funds used in the transaction.
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Self-Employed Borrowers
Common requests may include identification, tax returns, business or income documentation and relevant account statements.
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Retired / Fixed-Income Borrowers
Common requests may include identification, pension or Social Security award information and relevant account statements.
These are general examples, not a complete application checklist. Additional documents may be requested.
Security note
Do not send identification, tax returns, bank statements or other sensitive documents through a general website inquiry. Use the designated document-submission process when instructed.
Terms
Mortgage terms in plain language
- Down Payment
- The portion of the purchase price paid upfront rather than financed through the mortgage.
- Earnest Money
- A deposit made as part of a purchase agreement. Its treatment depends on the contract and closing arrangements.
- Appraisal
- An assessment of property value used in the financing process. It serves a different purpose from a home inspection.
- Mortgage Insurance
- Insurance required with some loan arrangements. Its cost and cancellation rules depend on the loan type and applicable requirements.
- Escrow
- An arrangement used with some mortgages to collect funds for expenses such as property taxes and homeowners insurance.
- Closing Costs
- Transaction expenses associated with completing a purchase or refinance. Ask for an explanation of the costs relevant to your loan.
Your Conversation
Questions worth asking
- Which programs might fit my circumstances?
- What upfront funds should I prepare?
- What costs and mortgage-insurance requirements apply?
- Which documents are needed?
- What could affect the timeline?
- What should I understand before accepting the loan terms?