Home Loan Resources
Our goal is to make the process of getting your mortgage as smooth and hassle-free as possible.
Use any of the tools in the left menu to find out how much you can afford, what you will need to apply (and qualify), the difference between terms and loan options, and more!
In addition, check out 9 Steps to the Home Buying Process as well as these additional resources from Fannie Mae:
- Fannie Mae-Overview
- Fannie Mae-Getting Started
- Fannie Mae-The Buying Process
- Fannie Mae-Credit Scores
First Time Home Buyer?
Let us take the worry out of your first home purchase – it doesn’t have to be a confusing or frustrating process. Our Real Estate Lending representatives will walk you through the process, taking care to make sure the rates and terms are clear.
Home Loan Checklist
Following is a list of the documents you will need in order to complete the mortgage loan application:
- Most recent pay stubs representing a minimum two month period, for all borrowers (copies).
- Addresses of all borrowers for past two years.
- Name and addresses of employer(s) for last two years.
- Copies of W-2 forms for last two years.
- Bank statement copies for all accounts over past two months.
- Other income verification (if applicable). This could include rental agreements, notes receivables, retirement income, child support, etc.
- Purchase and Sale Agreement copy – all pages.
- Deposit for appraisal, credit report, and title insurance.
- Other assets being used for down payment and closing costs. This could include closing statement on sale of existing property, stock options, documentation of sale of assets (example: car), etc.
- Homeowners insurance information (name of company, agent, phone number).
- Landlord information for past two years (name, address and phone number).
*Current profit and loss statement.
- Current balance sheet.
- Tax returns for past two years (personal and corporate, with all schedules).
- Copy of Social Security Card and Driver’s License for all borrowers.
For VA Loans
- Veteran’s DD-214 (copy) or Certificate of Eligibility (original).
Typical Mortgage Process
Following is an example of what you can expect through each phase of the Mortgage Loan process:
Let’s get started
- You contact Qualstar’s Real Estate Lending Department for pre-approval. You can either contact them us phone at 1-800-848-0018, or fill out our online Mortgage Application.
- Once your application is received, a Real Estate Lending representative will contact you to set up an appointment for an application and credit review. (See the Mortgage Loan Checklist for a list of required items to bring with you to the appointment).
- Once the Real Estate Loan representative gives you a credit approval, you can then choose a realtor.
- You and the realtor will then select and make an offer on a home.
Paperwork and documents
- You make the required deposit with Qualstar Real Estate Lending for the Application Review.
- Qualstar Real Estate Lending orders a credit report, appraisal, verifications, title, and other required documents.
- Qualstar Real Estate Lending reviews returned documents, including appraisal and title report.
- Qualstar Real Estate Lending contacts you (or your realtor) for additional information as needed, including verification showing property work orders are complete.
You’re almost done
- Qualstar’s Real Estate Loan representative submits the full loan package to an underwriter for final approval.
- Qualstar Real Estate Lending requests any further information required for approval.
- Closing documents are prepared and delivered to the Escrow company.
The home stretch
- The Escrow Company calls you to schedule an appointment for signing and notifies you of the final dollar amount to bring to closing.
- You sign the closing papers and deposit the funds.
- The Escrow Company delivers the deed of trust to the county to be recorded.
- You get the keys to your new home!