Pelletier Realty Group knows that obtaining mortgage financing is one of the most important steps in purchasing real estate. At Pelletier Realty Group, you can find a list of recommended mortgage lenders and mortgage programs and terms. Pelletier Realty Group has a mortgage calculator to determine your monthly payment and a mortgage glossary of commonly used mortgage terms.
Contact us if you have any questions or would like more information on mortgage financing.
See Below for the Following Sections:
- Loan Programs
- Glossary of Mortgage Terms
- Taking the first step for financing
- Recommended Lenders
Mortgage Loan Programs
- FHA Loan Program
- Rural Development Guarantee Program
- New Hampshire Housing Finance Authority
- Investor Rehab or 203K Rehab Loans
- Conventional Mortgage Loans
- Adjustable Rate Loans
- Mortgage Glossary
Take The First Step, Make the Call
Did you know finding out what you can afford is only a phone call away? Most loan officers can be reached by cell phone and the following is what they will ask for:
- Over the phone, you must tell the originator your name and address, social security number of each applicant.
- Name, address and phone number of your current landlord or mortgage company.
- Your income; gross monthly income. Any additional income such as overtime, child support, dividends, social security, alimony, interest income or retirement.
- Current Employment, company address, phone number and employment from the past 2 years.
- Your Assets, savings or checking accounts, bank name, and approximate balances.
- Source of down payment and closing costs.
- Additional assets such as stocks, bonds, mutual funds, money markets, etc.
- Liabilities, credit cards, and balances or an installment loans.
- Additional properties, investments or second homes.
- Payments such as child support or alimony if applicable.
After discussing your qualifications and finances you may choose to make an appointment to meet the loan officer and supply documents that will verify what you have stated. You will want to ask what they offer for programs that would best suit your needs and what their closing costs and rates are. Not all lenders can supply the same programs and prior to them running your credit you should ask them based on your income and debt what type of program they think will work for you. You are not obligated to use the loan officer even if they preapproved you, however, if they have responded professionally and are competitive it may be best to follow up with an appointment. They should supply you with a Good Faith Estimate which breaks down your costs and projected terms and payments.
The following documents must be presented upon application:
- Your two most recent pay stubs
- Bank statements for the last two months
- W-2s for the last two years
- Federal tax returns for the last two years
- All long term debt, i.e. credit cards, loans, installment loans, child support.
We have worked with the following local lenders below and have known them to be professional and thorough.
Call to get your preapproval decision and determine your true purchase price.
Mortgage Network, Inc.
Merrimack County Savings Bank
Merrimack County Savings Bank
Bank of NH
Residential Mortgage Specialists