With interest rates at historic lows, the mortgage market is hotter than ever.
We are working to respond to our members as quickly as possible, but the volume of inquiries that we are seeing means it may take us as long as 2 weeks to respond to you. Mortgage closings are taking 45-60 days to complete. These time estimates are consistent across the region and industry, as we all work to meet this unprecedented demand.
To speed up the application process, you can begin by gathering copies of the following documents that will be needed to process your application.
Is all your paperwork ready & available electronically?
Copies of the following paperwork need to be submitted for a mortgage preapproval.
- Your most recent 30 days paystubs.
- Your 2018 and 2019 W-2’s and/or 1099’s.
- Your social security and/or retirement award letter, if applicable.
- Your complete 2018 and 2019 signed federal tax returns if you are self-employed, work for a family member, receive commission or large bonus income.
- Your most recent 2 months bank statements for all accounts with financial institutions other than AmeriChoice FCU.
- The lease agreements, homeowner’s insurance declaration’s page and all tax invoices for the current tax year, for any additional properties owned.
- Your most recent mortgage statement for any mortgaged properties owned.
- Your complete bankruptcy documents, including the discharge documents, if you’ve filed bankruptcy within the most recent 10 years.
- Your marital settlement agreement to verify the terms of alimony and/or child support, if applicable.