Our mission at The Spring Mortgage Team is to be your best resource for financial advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about the lending process. Subscribe to this blog to get the latest news on loans for purchase, refinance, construction or cashout of residential and commercial property.
Protect Your Transaction (PYT) is a $10,000 closing assurance program. We’re so confident in our loan approval that we’re willing to put that kind of money on the line for our clients. This kind of assurance makes your offer really stand out in the seller’s eyes, which is crucial in this busy market.
If you have any questions about this program, or any real estate topic, please don’t hesitate to reach out to us. We would love to hear from you!
Our team here at Spring Mortgage is different in a lot of ways. Most of the work we do is behind the scenes, but we wanted to share some of that with you today. Here’s how we differentiate ourselves from the pack:
Knowledge. We know the business, including all the guidelines and how to make things work in an ever-changing mortgage world.
Flexibility. We have home loans for everyone. Whether you need to buy a mansion with a super jumbo loan, or you’re a first-time buyer who needs down payment assistance, we can help you. We have loans for those with great credit, and those who have some hiccups. We even have loans for people who have gone through bankruptcy or a foreclosure last week.
Communication. We work really hard at it. The level of communication between Realtor, lender, and customer in this industry is horrible. We don’t accept that. Our process is fine-tuned so that no Realtor or customer will ever be in the dark. If you ever have questions for us, we’ll get right back to you.
Finally, we have our $10,000 closing insurance program. We are so proud of our process that if we fail to perform on our commitment to a customer, we will pay them $10,000. If that’s not different, we don’t know what is.
"We have home loans for everyone."
If you have any questions for us, please give us a call or send us an email. We would love to hear from you!
If you’ve ever applied for a mortgage, you know how much documentation is needed. If not, it’s important to know exactly what you’ll need to keep the process going smoothly. Your type of income determines the documentation you’ll need to provide in most cases.
If you’re a W-2 employee (taxes are taken out of your paycheck) will need two years of W-2 forms, and if you rental property or commissionable income, or your bonus exceeds 25% of your salary, you’ll need two years of income tax returns.
"It’s important to know exactly what is needed."
You also need 30 days worth of recent paycheck stubs, two months worth of account statements for check, savings, retirement; anywhere that your money comes from. You also need to provide 24 months of employment residence history, along with identity verification like a driver’s license, social security card, or passport. For those who are self-employed or a contractor (taxes aren’t taken out of your paycheck) you’ll need two years worth of 1099 and K-1 forms, two years of full personal tax returns, and if you own more than 25% of the business, you’ll need two years of the business tax returns as well. Everyone will also need to provide a year-to-date profit-loss, to show that your income is in line with the tax returns from an income and expense standpoint. We’ll help you with that.
