Our Toll Free Number is 866-333-6170
Prudential Homesale Services Group
(717) 367-6200
Mortgages
Loan programs come in many forms and come from many sources. Just as the loan structure, like a 30 year fixed rate mortgage, can affect your interest rate and monthly payments, the source of funding for your loan can also affect your rate and payments. The source of funding can also affect the amount of your down payment and closing costs.
If you have at least 3% of the loan amount to use as a down payment, you may consider the most common type of loan, a conventional loan.
The loan approval process generally begins with an initial interview where you and the mortgage professional meet to discuss the potential loan. You will need to bring information to verify your income and long term debts.
To complete the 1003 Mortgage Application, you will need to gather:
A purchase contract for the house (if you have one)
Your bank account numbers and the address of your bank branch, along with checking and savings account statements for the previous 2-3 months
Pay stubs, W2 withholding forms, tax returns for two years, or other proof of employment and income verification
Credit card bills for the past few billing periods, or canceled checks for rent or utility bill payments, to show payment history and amount of revolving debt
Information on other consumer debt such as car loans, furniture loans, student loans and retail credit cards
Balance sheets and tax returns, if you are self-employed
Any gift letters, if you are using a gift from a parent or relative or other organization to help pay the down payment and/or closing costs. This letter simply states that the money is in fact a gift and will not have to be repaid
Mortgage Calculators
Use these calculators to see where you stand. There are many more on the Resources page.
