What do you need to use a Maine bank, buy a place with a mortgage from a lender if you are the buyer of ME real estate?The list of items needed at a loan application when you pull up a chair, talk with a Maine bank, mortgage "loan arranger"..what's needed anyway? Being prepared, having paperwork in hand speeds up the loan in a Maine home lending process. Without one of the documents asked for, the Maine loan gets stuck circling the mortgage home buying airport, getting low on fuel, stopping the flight from landing at the real estate closing.
So for pre bank lending homework knowing you don't step out and buy a home in Maine every day, plan to collect, hunt down the following BEFORE before the bank loan application.
1) 30 days full paycheck stubbs (Year to Date)
2) Last 2 years W-2's.
3) If self employed, need two years of personal and business returns.
4) Last 2 months bank statements of all accounts, all pages
5) Copy of most recent monthly or quarterly account statement for retirement
6) Copy of all Bankruptcy Discharge papers and list of creditors (if applicable)
7) Copy of Settlement Statement from last sale of Maine home (if applicable)
8) Copy of signed Maine Real Estate Contract, Purchase and Sale Agreement (if purchase transaction)
For a Maine home refinance check list , start the collection of:
1) Copy of Property Title Work
2) Copy of old Survey
3) Copy of Mortgage Deed of Trust
4) Copy of Settlement Statement from Maine home purchase
5) Insurance company name, phone number and policy #
This is a laundry list of paperwork in hand, collected together that will be like a spray of WD 40, squirting the loan lending, buying machinery cogs on your buying, refinancing a Maine home process. Maine, be prepared to have some serious four season fun.