Month: November 2017

Documents Required to Qualify for a Mortgage Loan

by Suzana

Preparing the necessary financial documents ahead of time speeds up the mortgage application process. Nonetheless, mortgage lenders are unique, and some may ask you to provide additional documentation. Below is a breakdown of the necessary documentation needed in each mortgage application situation.

Proof of Income

Your mortgage lender may ask for proof that you have a source of income to be sure that you will pay the loan back. You may be asked to provide copies of pay-stubs and W-2 copies for the past two years. Your home loan lender will use W-2 form to track your income history and verify that you have a source of income. You may also be asked to provide addresses and names of all the companies you have worked for in the past two years.

Credit History

Mortgage lenders must ask for a credit history to assess how risky or creditworthy a borrower is before giving them a loan. Borrowers with an impressive credit history are likely to qualify for better loan options and large loans with favorable interest rates. Your lender will ask for your date of birth and social security number to verify your creditworthiness.

Copies of Insurance Covers

Mortgage lenders use homeowner’s insurance to verify that a borrower has sufficient coverage on a property before applying for a home loan. Homeowner’s insurance covers any event or damage that may affect the value of your property. Borrowers may also be asked to provide a copy of title insurance as a protection against any error in their property’s title. In short, a copy of title insurance helps verify the property’s legal description, the names on the title, and the taxes.

Down Payment and Source of Funds

Borrowers must prove to the lender that they have some money to close the costs for them to qualify for a mortgage loan al. Some of the acceptable sources of funds include proof of receipt of funds and gift affidavit, money market funds, the sale of an existing property, or stocks and bonds. However, a lender may ask a borrower to provide copies of their bank statement, a statement of listing agreement and signed contract on their sold property, and copies of certificates or statement from their bonds and stocks brokers. Borrowers may also be required to submit additional documents based on their credit or application report.

Details about Your Property

Many lenders often ask for a copy of a signed sales contract to verify that a borrower has security. You could also be asked to provide phone numbers, addresses, and names of the attorney, real estate agent, or insurance agent involved in the sale of the property. Furthermore, some lenders can ask borrowers to provide a copy of bank statement to verify the deposit they placed on their home. You could also be asked to provide legal description or listing sheet, but this is optional. People whose property is condominium may be asked to provide their recent budget, by-laws, and condominium declaration. You can consult an expert in home loans to help you understand what documentation is required to get approved.

Consider Owning Your Company’s Building

by Suzana

Buying a building to put your business in is a great idea because you are in control of all the intricate details that make your company sink or swim. You will be able to make executive decisions beyond the actual scope that you are used to staying in with your company. You might be used to making the call when it comes to client relations, for instance. When you own the building that your company is using, you will still have say over the client relations that your company has, but you will also be able to help influence these relations by making the meeting room look better. This is one of many examples how you can influence one of many areas of your company by simply owning the building your business is using.

You might like your meeting room already, but once you have a say on how the particular areas of your building and the surrounding grounds appear you will have a pride that goes beyond simply liking something. If you think it was enough of a personal touch to add the paintings and blinds in the meeting room, then you aren't dreaming big enough. Clients are impressed by companies that take initiative. Your company can demonstrate the reach it has by making the building into an actual experience for those that enter it. You might want to look at resources for Feng Shui to have a good idea of how to arrange your office space.

Taking the meeting room apart and reassembling it from the ground up is just one of many examples of what you will be able to do with your business when you own the building. What goes on inside of the building won't be your only responsibility, however. You must remember that a client's first impressions matter. When they arrive at your building, the actual physical appearance of the building itself has a humongous impact on how they perceive your business when they step out of their cars. If you have only one tree and a shabby shrub planted in a flowerbed outside of your building, you might send the wrong message that you don't care about how things look from the outside. You should make sure that your building and the grounds around it are free of trash and other debris.

Have a professional give their opinion on what elements should change on the outside of your building. You might want to add some topsoil puyallup wa. to the flowerbeds to give an appearance that your company cares about the way their headquarters looks. It will also give your employees pride to know that they have a pleasant view when entering their place of work.

You'll think of more ideas as you start making the building your own. If you haven't already found a place for your company, take a look in less residential areas. You'll do better to be surrounded by other businesses that do similar but different types of work.

Information — Enterprise.govt.nz

by Suzana
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