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All agents are NOT alike! Find out why we are top real estate experts. Call us: 734-432-9342 or Toll Free 866-4WILBANKS.
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I Appreciate All Your Help I know it wasn't your job, but you made me feel like I made a friend in real estate. Natalie & Ben Read Quote > View All Quotes >
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Lee Wilbanks And The W.R.E.C. Group
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Financing Your Home >Mortgage Fears
It is not unusual for home buyers to feel that the lender is being very critical during the loan approval process. The buyer is required to provide all kinds of financial information, and then the lender asks for more. If this is your experience, and the process seems discouraging, remember that none of this is personal!
Some lenders have more stringent requirements than others, but every lender requires a substantial amount of documentation on a mortgage loan. They must verify employment, credit history, and recent financial transactions involving your liquid assets. If your Visa payment was late, they may ask for a letter explaining why. If you are self-employed, they will ask for tax returns from at least three years and probably a year-to-date profit and loss statement.
Government regulations require mortgage companies to document everything. And while the loan officer may know that you are a reliable risk, the underwriters must be able to defend the loan to a federal bank examiner or auditor.
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| Q |
What site discovered in 1965 is considered the world's oldest known habitation?
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| A |
The Terra Amata site in Nice, France has the remains of 21 huts belonging to the Acheulian culture from 400,000 years ago. |
See More Real Estate Trivia > |
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Lee Wilbanks And The W.R.E.C. Group RE/MAX Alliance 37569 Five Mile Rd Livonia MI 48154 Office Direct: 734-432-9342 Cell: 734-635-2390 Office : 734-462-3600 Toll Free: 866-4WILBANKS Fax: 734-943-5910 Email: wilbanks@leewilbanks.com Email: wilbanks@thewrecgroup.com
Lee Wilbanks is a 3rd generation Realtor. Lee's many accomplishments include: CDPE (Certified Distressed Property Expert), the Prestigious CRS, DGA, ABR, RECS, SRES, Professional Standards, Presidents Club, Chairman's Club, Top 10% Club, Life Time Achievement Award, Top Producer, Honored Professional of "Who's Who" in Executives in Business, Hall of Fame and Platinum Member. You can visit Lee at his web site or email him. Lee has lived in the Livonia, Novi, Northville and Farmington area for the past 35 years. He is married and has three children.
To buy or sell call the RE/MAX Realty professional LEE WILBANKS. 

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