If you can prove you can pay the mortgage I can get you a great loan.

To make your loan as smooth as possible Please provide copies of:

1. Driver's License and Social Security Card

2. Last 2 years worth of W2's and tax returns

3. Last two month's pay stubs

4. Last two month's unaltered bank statements all pages both sides.

5. Latest statement of Stocks, Bonds, Annuities, IRA, 401(k), Money Market or any liquid assets.

6. Copies of K1s for last two years (if applicable)

7. Copies of any VA benefits

8. Complete list of real estate owned including values, mortgages, payments including taxes and insurance.

9. Employer contact information.

10. Realtor contact information.

Fax your documents through my efax at  941-882-1468

Red Flags that can disqualify a borrower

·       Declining income. Unreported Income doesn’t count.

·       More than 10 mortgages - Against Fannie Mae guidelines

·       Credit score below 600 - Lenders are tightening scores

·       Lack of seasoned cash - must be 60 days  or gift funds.

·       New job in different field

·       Recent foreclosure or Bankruptcy

How to avoid problems with your loan:

1. Do not apply for any debt until after closing.  –

a.      No new cars loans (car dealers can hit your credit with every lender they deal with.  I have seen as many as 10 inquiries (which lowers scores as many as 20 points in one day)

b.      Do not apply for credit card loans.

c.      Don’t have a lot of credit pulls.  Each time you pull credit it affects your score.

2.      Do not pay off old collections without speaking with me.  Oddly enough this is one time when good intentions can hurt you.  Paying off old collections can actually decrease your score.  It is like stirring up old mud in the credit system.

3.      Do pay your bills on time. 

4.      Conserve and build cash

Credit score tips:

·       Having credit card debt at less than 50% of your maximum balance helps your score.  Having your credit card debt at more than 50% balance hurts your score.

·       Applying for any credit always decreases your score.

·       Most credit reports contain errors.  Removing errors increases your score.

·       Closing unused or zero balance accounts will hurt  your score.  Leave them sit at zero!

·       For a cost, your credit file can be rapidly rescored and it may be all the difference between getting a loan and being denied.

Together we can get your into the home of your dreams

Copyright © 2008 CapeFunding