Buying a home in Miami, Florida can be an exciting and rewarding experience, and Lending Bankers Mortgage LLC can help make it happen.
A residential loan is a type of loan used to finance the purchase or renovation of a primary residence, such as a house or a condominium. These loans typically have longer terms and lower interest rates compared to other types of loans, making them a popular option for homebuyers.Learn More
A commercial mortgage loan is a type of loan that is specifically designed for businesses or investors who want to purchase or refinance commercial properties. With competitive interest rates and flexible repayment terms, a commercial mortgage loan can provide the necessary funding for a range of commercial real estate projects.Learn More
1. Credit History
When you apply for a mortgage, we must access your credit report to know how credit worthy (or risky) you are as a borrower. Borrowers with high credit score are more likely to qualify for a larger loan, better loan options, and/or a more favorable interest rate . We’ll need your Social Security number and date of birth.
2. Your Property
3. Proof of Income
To make sure that you are able to make your mortgage payments, we need to see proof that you have a source of income. Following documents are usually required:
If self-employed or receive commission or bonus, interest/dividends, or rental income:
4. If you will use Alimony or Child Support to qualify
5. Source of Funds and Down Payment
To qualify for a mortgage, you need to be able to show that you have some money for the closing costs. Acceptable sources of funds may come from:
6. Copy of Your Earnest Money Deposit
The earnest money deposit is a deposit made by a buyer towards the down payment in evidence of good faith when the purchase agreement is signed. You may be asked to provide a copy of the earnest money deposit.
7. Copy of Homeowners Insurance
Homeowner’s insurance is used to verify that you’ll have sufficient coverage on the property when getting a mortgage. It covers any damages that may affect the home’s value.
8. Debt or Obligations
Once you've begun the loan process, our loan expert will let you know exactly what documentation you'll need to get approved. If you would like to learn more about the process of getting a home loan, contact us at (786) 220-1100 or take the first step by getting pre-approved here for FREE!
Lending Bankers Mortgage LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.