Lending Mortgage Area - Maryland & Pennsylvania Real Estate

Nicholas L. Johnson Sr.
Licensed Maryland & Pennsylvania
REALTOR

Associated with
long&foster realtors
Gettysburg, Pennsylvania - - - - - Frederick, Maryland

Adams, Franklin & York County
Pennsylvania

Carroll, Frederick, Howard, Montgomery
& Washington County, Maryland

Team Johnson Residential
Working with Sellers and Buyers

Listing, Marketing and Locating
Single Family Homes & Townhomes, New Homes & Developments, Condominiums,
Historic Properties, Estates, Luxury and Vacation Homes, Luxury Home Sites, Building Lots, Farms/Farmettes, Retirement, Golf and Lake Communities.

What you would expect from your agent, plus more....
Nicholas Johnson

Obtaining a Mortgage

Your Initial Meeting With a Lender

The loan approval process generally begins with an initial interview where the prospective home buyer and the lender meet to discuss the potential loan. You will need to bring information to verify your income and long-term debts.

Often people prefer to meet with the lender before house hunting to determine in advance what price range they can realistically afford and the mortgage amount for which they can qualify. This step is called pre-qualification and can save you much time and trouble by making certain you are looking in the correct price range.

For your first meeting with the lender, you should bring:

A purchase contract for the house, if you have one.
Your bank account numbers and the address of your bank branch, along with checking and savings account statements for the previous two to three months.
Pay stubs, W2 withholding forms, tax returns for two years, or other proof of employment and income verification.
Divorce settlement papers, if applicable.
Credit card bills for the past few billing periods, or canceled checks for rent or utility bill payments, to show payment history and amount of revolving debt.
Information on other consumer debt such as car loans, furniture loans, student loans and retail/credit cards.
Balance sheets and tax returns, if you are self- employed.
Any gift letters, if you are using a gift from a parent or relative or other organization to help pay the down payment and/or closing costs. This letter simply states that the money is in fact a gift and will not have to be repaid.

Having these items on hand when you visit the lender will help speed up the application process. Usually, you will need to pay an application fee and the appraisal fee when you submit the mortgage application. This is done only after you have negotiated successfully on a home and the seller has accepted your offer. Generally, there is no fee for prequalification.

After the initial meeting with the lender, you should have a general idea if you qualify for the size and type of loan you want. The lender should let you know if you qualify for the loan in 30 to 60 days. If you are denied a home loan, the lender must explain the reasons. If this happens, the lender will usually discuss any options with you.

Lending Links
I am Ready To Get Pre Aproved
Jennifer Altman Mortgage Counselor.
PreAproval Information - What To Expect!

Member In Good Standing,
Pen Mar Realtors Association, National Association of Realtors,Maryland Associations of Realtors,
Pennsylvania Association of Realtors, Realtors Association of York and Adams County - MLS
MRIS - Metropolitan Regional Information Sytstems

Nicholas L. Johnson Sr.
Team Johnson Residential - Owner/Agent
Proudly Associated With Long & Foster Real Estate Incorporated
Frederick Sales Office
5301 Buckeystown Pike Suite 250 Frederick, Maryland 21704 Broker 301-694-8000
My MD Direct & Voice Mail Paging Line 301-644-1056
Gettysburg Sales Office
430 Baltimore Street Gettysburg, Pennsylvania 17325 Broker 717-338-3406
My PA Direct Line 717-642-9025

Email Nick

Please Email questions and comments to webmaster@mdrealtygroup.com
nicholas.johnson@longandfoster.com