Jimmy Vercellino is an experienced Phoenix mortgage lender. He and his team work hard to provide a timely, efficient and excellent home loan process for buyers. As a loan specialist, Jimmy manages the entire process for his clients, making the home buying experience a pleasure instead of filled with stress. Visit http://phxhomeloan.com The Vercellino team operates a boutique-style mortgage branch with a specific culture centered around “serving families”. He is able to originate loans in 46 states and his bank maintains a full line of conventional, government (FHA and VA) and jumbo loan products. He has received several loan production awards including National Top 1% Mortgage Broker Award. Phoenix Mortgage Lenders Jimmy V NMLS# 184169 5050 North 40th Street Phoenix, AZ 85018 480-800-8387 Jimmy@phxhomeloan.com

2. When in the process of
seeking a mortgage,
there are several pieces
of documentation
required.

3. The complete list of
requirements is slightly
different from one
person to the next.

4. Nevertheless, there are
some universal pieces
of documentation that
are required for all
mortgage applicants.

5. With that in mind, we
will look first at those
consistently required
and then the specific
requirements related to
VA loans.

7. Filling out a standard mortgage
application will alert to the types
of documentation expected.
• The applicant will need to sign an
agreement that will allow the
lender access to several pieces of
the applicant's personal
information.

8. • The applicant will need to sign an
agreement that will allow the
lender access to several pieces of
the applicant's personal
information.
• The applicant's social security
number and credit report are the
most significant personal data
collected once the applicant
grants permission.

9. • Generally, a month's worth of pay
stubs and two years' worth of
W-2s are also expected.

10. The lender requires the
information related to this
disclosure agreement to assess
the applicant's financial and
employment history so as to
make an informed decision
regarding the loan request.

11. Once all the disclosures
have been signed, if a
lender approves a
mortgage application,
more personal
information …

12. … will be gathered from
the new client in order
to help find the best
possible fit among the
different options
available.

13. At this time,
identification including
a driver's license will be
required.

14. Further financial
documentation will be
necessary in this stage
of the mortgage
planning process.

15. These include bank
statements, and
employment verification.

16. Furthermore,
documentation will be
required related to the
home for which the
client seeks the
mortgage loan.

17. This paperwork includes:
• The purchase contract
• A copy of the earnest
money deposit check
that was written for
the real estate
transaction

18. • Preliminary title report
• Proof of any insurance
covering the house
• An asset assessment

19. Depending on the type
of mortgage sought and
other individual
variables, further
documentation may
also be required.

20. • Additional bank
statements and pay
stubs may be
requested.

21. • If self-employed or
otherwise employed
without a W-2, a
business license or CPA
letter may take the
place of the W-2
requirement.

22. • Some situations
require
documentations of a
property appraisal.

24. If seeking a mortgage
while in military duty, a
Statement of Service
and Certificate of
Eligibility (COE) will be
required.

25. For those not currently
serving, a COE is still
required; proof of prior
military service will be
required in the process
of making the request
for this documentation.

26. Additionally, the
DD-214 is required for
those not presently
serving in the military.

27. The Statement of
Service can be attained
by contacting the
applicable commander,
personnel office, or
adjutant

28. The lender may have
access to the
Automated Certificate
of Eligibility (ACE)
system, through which
eligibility can be
determined via an
online application for
the COE.

29. Most lenders have
access to this ACE
system, although ACE
can only process
eligibility for people
that the VA has enough
personal information
about.

30. If ACE does not work,
then the COE can be
obtained through
submitting VA form 26-
1880 with the request
for this certificate to the
Winston-Salem
Eligibility Center.

31. Every person seeking a
mortgage will need to
go through a process
that requires much
documentation.

32. The specifics differ from
one person to the next.
Yet, enough consistency
exists among mortgages
in general …

33. … and especially among
specific VA loans that
this should help as a
guide to know what is
needed when applying
and meeting with a
lender.

34. Jimmy Vercellino, an experienced
Phoenix mortgage lender, works hard
to provide a personalized home loan
process for you.

35. Options include conventional, FHA and
VA loans, fixed/adjustable rate
mortgages, Jumbo loans and more.