Why get a mortgage through The Arlington Bank?
It does matter where you get your mortgage loan. At The Arlington Bank, you’ll enjoy a unique experience and your loan specialist is available in person at our office in Upper Arlington if you have questions.
Step 1 – Get pre-qualified
How much house can I afford?
Before you begin looking for a home to buy, it’s a good idea to determine what homes you can afford. We help you do this through the pre-qualification process. To pre-qualify, you and our lending specialist use financial information provided by you to estimate the maximum loan you should be able to obtain. The process does not guarantee that your mortgage application will be accepted, but it does help you narrow your search to homes you can afford.
Step 2 – Loan Application
When do I fill out a mortgage loan application?
After your offer to buy a home has been accepted, it is time to submit a mortgage application with The Arlington Bank. We will let you know what information is required to make the mortgage loan process go as quickly as possible. Please be sure to provide accurate and timely information. To begin filling out your loan application online, click here.
Quite a bit of information is needed at the time you apply for the loan, but our experienced lenders will help you with any and all questions. The following is a list of items you should be ready to provide:
- Government issued picture identification
- Proof of Social Security Number/s
- Residence address/es for the past two years (including landlord contact information)
- Names, addresses and phone numbers of each employer for the past two years
- W2s for the past two years and the last two pay stubs
- For each checking and savings account: name of financial institution, address, account number and balance, and last two months’ statements
- For each existing loan: name of lender, address, account number, balance, and monthly payment
- If you are self-employed: last two years’ signed tax returns; year-to-date profit and loss statement prepared by an accountant
- Loan information and address/es of real estate owned
- Deposit for credit report and appraisal
- Proof of pension income, if applicable
- Social security and disability payments, if applicable
- Bonus income
Step 3 – Preparing to Close
What needs to happen to close the loan?
Soon after we receive your application, The Arlington Bank will send you the following information, along with other helpful documents:
- A Loan Estimate — This estimate will give you an idea of the fees you will incur. Fees may include: application fee, points, appraisal and credit report fees, and closing and settlement fees. This statement also provides information about the proposed loan such as annual percentage rate, total finance charges, amount financed, total payments, payment amounts, late payment charges, prepayment penalty (if any), and assumption options, which indicate our willingness to allow a future buyer to assume your original loan.
- Your Home Loan Toolkit, a step-by-step guide — A booklet from the Consumer Finance Protection Bureau (CFPB) to help you make better choices along your path to owning a home.
Before your closing, take time to review all of your loan documents and your purchase agreement. Be prepared to pay the remaining closing costs and down payment at closing. Funds needed for closing should be in the form of a certified or cashier’s check, rather than a personal check. And remember, if you have any questions, please don’t hesitate to contact your personal lender for assistance.