The Mortgage Process By: Bruce Henderson

Step 1  Compare renting v buying  Communicate requirements necessary by lenders  Determine what type of home you are looking to purchase (condo,townhouse, single family)  Give general timeline

Step 2  Access Credit Reports (tri merge) Collect $15 for credit report Explain credit report in detail Determine where improvements can be made. Provide tips for improving credit scores.

Step 3  Compare lender’s requirements with current credit score  Advise of the purchase price they can qualify for  Give Good Faith Estimate Highlight the purchase price and monthly payments (PITI)

Step 4  Gather all supporting documents Bank statements Payroll history Order verification of rent Order verification of employment Etc.

Step 5  Connect pre-qualified client with realtor  Review executed contract with borrower  Provide new good faith estimate  Highlight closing costs and mortgage payment (PITI)

Step 6  Order Appraisal of property Collect $300 appraisal fee.  Review appraisal results with borrower to determine how to proceed.

Step 7  Submit complete file to lender  Go over all conditions with borrower Satisfy list of conditions

Step 8  Set a closing date

Step 9  Go over list of important dates after closing Homestead exemption filing Taxes Mortgage payment date etc

Contact Information  Mortgage Works Unlimited 2240 Palm Beach Lakes Blvd Suite 400A West Palm Beach, FL  Phone numbers: Cell (561) Office (561) Fax (561) 