1. An application for a mortgage showing revenues, expenses, assets and liabilities, jobs, housing and places. They are really interested in the last two places of habitation, and the last two places of work. Assets of them somehow not very interested in, and the list of debts and expenses they have received from the credit bureaus.
2. Tax returns for the last two years
3. The last two months of bank statements. They had several times to update.
4. Two recent reports about wages,
5. A copy of driver's license
6. Proof that the time to pay for housing the last 12 months (copies of checks or a letter from hoyaina housing)
During consideration of the application (where it took 30 days), has asked further explanation of large deposits in the accounts. Where's the money?
In addition, before the closing of the transaction, the bank made a valuation sovstvennosti (at my expense) and inspection of property boundaries (also at my expense). In addition, before the closing of the transaction it is necessary to purchase insurance on the house, and get a commitment from the title of the titular company that insures property rights.
NA costs for mortgages:
Origination Charges (a fee for the services of the bank) $ 34.50
Evaluation sotimosti $ 390
The credit report from the credit bureaus $ 10
Certificate of property that is not in the flood zone $ 11
Services cover the company $ 685
Title insurance for the owner $ 2900.00
Title insurance for the bank $ 685.00
Gosudartvennuyu registration fee $ 185.00
Transfer tax (transfer taxes) $ 2,293.50
The fee for electronic filing system $ 27.50
Study property boundaries $ 395.00
Total: $ 7616.50
Terms of mortgage:
The amount of loans $ 417.000, it is necessary to pay at least 20% of the appraised value of the property of their savings. Interest on mortgage 2.875% fixed for 7 years, and after 7 years it will change each year, depending on the 1 godichnocho LIBOR. There is an upper limit - the percentage can rise above 8.875%. Restrictions or charges for early payment is not. The body of the loan by calculating the pogashetsya uniform payments for a period of 30 years. That is, consider how much you have to pay per month (for the interest and principal amount of the loan) to 30 years to pay it. In this particular case, the minimum monthly payment will be $ 1730.11 for 7 years, and then every year will change in greater and in the smaller side, depending on the amount of debt and the interest rate.
I should add that everything happens on the phone, and all documents are poisoned by emailu. I personally do not need to go anywhere.
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