Application Checklist

New Home Purchase

Buying a home is a huge endeavor and we here at American Freedom Funding aim to make it as stress free as possible. If you are already working with a Real Estate Agent, you’re ahead of the game. Their experience in the industry will help make the journey that much easier. If you aren’t working with one yet, that’s okay. We can refer some amazing agents that we have worked with in the past and we trust they can walk you through each step of the transaction alongside our very experienced Loan Originators. When you do decide to give us a call, the list below will prepare you for a more efficient overall experience.

If you’re interested in seeing what the application looks like click here.

All the info you will be providing will allow us to provide you with an accurate estimate of your future monthly payment. The more detailed you are, the better the estimate will be.

Income Documents

Whether you are looking for an FHA, VA, Conventional, or down payment assistance program, the items below will be asked of you. If you have them handy when you contact us, we can qualify you in less than 24 hours.

• W-2s for the past two years

• Two most recent pay stubs

• Two most recent bank statements o If applicable: 1099s if self employed

Downpayment & Closing Costs

The amount required for a down payment and closing costs vary depending on the loan program being used as well as the amount you would like to put into the house. The old rule about 20% isn’t always a factor today. Make sure to speak with us about options for smaller down payments!

• Bank Statement of where the funds will be coming from

• If applicable: If you’re withdrawing from your 401k or IRA, we will need a copy of that statement.

• If applicable: If you’re receiving the funds for the down payment and closing costs as a gift, we will need the bank statement of the person providing the gift.

Debts & Monthly Liabilities

Part of the information used to qualify you is the amount of money that goes towards monthly expenses. Before you commit to anything, we like to paint as clear of a picture as possible and that requires the following;

• Minimum monthly payment to all credit cards in your name

  • If you pay more than the minimum, that’s great! For our purposes, we need to know the minimum monthly payment required and amount still owed

• Any auto payments in your name and how much is owed on the vehicle

• Any student loan payments as well as any other private loan payment

Refinancing

There are various reasons for a homeowner to refinance their current mortgage. Whether you’re looking to refinance into a lower rate, cash out on some of the equity you’ve built up over the years or need to get some of those home repairs done. We at American Freedom Funding can make it happen. We can get you started fast with the following information.

Income Documents

• Two most recent paystubs

• W-2s for the past two years

• Two most recent bank statements

Property Information

• A copy of your mortgage statement

• A copy of your home insurance statement

Your Goal for Refinancing

Your reason for wanting to refinance is what will determine our direction for the refinance process. When you give us a call, we will pair you up with one of our experienced loan officers so that they can guide you through the entire process and help meet the goals you’ve set for yourself