Home Loan Resources

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At Belay Bank Mortgage, we offer a better home loan experience.

Find the support you need when buying a home or refinancing your current mortgage. 

Our Belay Bank Mortgage Home Loan Advisors are ready to assist you. Please know, we always maintain the highest degree of confidentiality and security with your personal information. Start with the information below and contact us with any questions.

If you're ready to pursue a home loan through Belay Bank Mortgage, here's a list of information we'll need from you when we begin the loan approval process.

Documents Required

  • Personal check to pay for appraisal and credit report
  • Name and address of all employers for the last two years with dates of employment as well as the Human Resources office phone number
  • Account number(s), balance(s) and monthly payment(s) for all outstanding creditors: such as credit cards, car loans, student loans and signature loans
  • Previous addresses for the past two years
  • Photo ID. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

Information that may be required

  • W-2 forms for last two years
  • Paycheck stubs covering the most recent 30 days (computer-generated)
  • Bank statements for the previous two months with institution name, address, account number(s) and balance(s) for all accounts
  • Most recent asset account statements such as IRA, 401(k), Mutual Funds and stock

If Applicable

  • Copy of complete divorce decree
  • Tax returns for last two years complete with all schedules for self-employed individuals with 25% or more ownership
  • Copy of the listing, purchase agreement, or closing statement for your present home that is for sale or already sold
  • Bankruptcy and discharge papers

If you are purchasing a home

  • Purchase agreement and all addendums – signed by the buyer and seller
  • Phone numbers for the realtors involved
  • Property information listing sheet or computer print-out indicating lot size, taxes, square footage and year built

If you are applying for an FHA or VA loan

  • Seller’s disclosure for home you are buying
  • Certificate of eligibility (for VA only)

If you are building a home

  • Phone number and address of your licensed builder, blue print plans and specifications as well as a copy of contract if possible
  • Legal description of lot
  • Copy of Warranty Deed if subject property is owned free and clear

You’ve made an excellent choice to refinance your home with Belay Bank Mortgage. Here are the items you’ll need to as we move through the process:

Property/Structure/Dwelling Details

  • A current balance on all existing mortgages
  • A current escrow balance on all existing mortgages
  • Current property tax amounts
  • A current homeowner’s insurance policy detailing the address of the covered property, dwelling coverage, along with the premium amounts and date of renewal.
  • Owner's Policy of Title Insurance that protects you against any unforeseen property title issues
  • Do you own your home or property and do not have a current loan against the property? Please provide a copy of the Warranty Deed of the subject property.

Personal Employment Details

A complete list of all employers for the last two years, including:

  • Valid employment dates
  • Human resource office phone numbers for each employer
  • W-2 forms (prior two years)
  • Valid paycheck stubs (prior 30 days)
  • Tax returns (prior two years) – Self-employed individuals should include schedules if 25% or more ownership is held.

Personal Information Required

  • Any previous addresses (prior two years), if applicable
  • Valid photo identification (a federal requirement for financial institutions at account opening)
  • All outstanding debt and creditors, including account numbers, current balance(s), and all monthly payments (i.e., credit cards, student loans, and car loans)
  • Valid banking statements (prior two months), including financial institution name/address/balances and account numbers for all accounts
  • All account statements for assets, including employer-provided 401k, mutual funds, stocks, or any type of IRA account
  • If you are divorced, please bring a copy of the official divorce decree/property settlement agreement
  • If applicable, bankruptcy/discharge papers
  • A valid, personal check or credit card number to pay for the credit report and appraisal

Our calculators make it easier to analyze the numbers and choose the right mortgage for your budget and lifestyle.

Frequently Asked Questions

Knowing in advance how to get a mortgage is an essential first step in the home buying process. First Bank Mortgage is a trusted and experienced mortgage lender and can easily assist you throughout the process. Before you decide to purchase your first home, carefully assess your own financial situation. Whether you're married or single, you'll need to determine where you stand financially. For instance, do you know your credit score? What are your current balances on unsecured personal loans, like credit cards and student loans? First Bank Mortgage does offer several programs for first-time homebuyers needing little money down; however, strive to have cash on hand, or in reserves, to utilize for any potential down payment, utilities, moving expenses, new home furnishings, or unforeseen emergencies. To help guide you through the home loan process, contact a First Bank Mortgage Home Loan Advisor. One of our friendly team members can help you determine the type of mortgage and loan amount that's comfortable for you, based on your individual financial position.
A fixed rate mortgage is just that, it has a fixed interest rate. Meaning, the interest rate does not change throughout the life of your loan, allowing your principal and interest payment (P & I) to remain the same. However, with an adjustable rate mortgage, the interest rate may vary based on changes in market conditions (up or down). It's important to know there is usually a cap on adjustable rate changes, protecting the borrower from the rate (and the corresponding payment) going up too high. Since there's the potential for an increase in your payment to occur, an adjustable rate mortgage tends to come with a higher risk. Carefully assess your personal financial situation to determine which is right for you.

Yes, it's possible for your payment to change. If this occurred, it would be due to any fluctuations in the annual tax assessments to your property or any increase to your homeowner's insurance policy. Since both are paid monthly through your mortgage payment, any changes to either of these items would alter your payment. Please note, with a fixed rate home mortgage, your principal and interest payments will remain the same throughout the life of your loan.

It would be nice to wait for a lower rate; however, at the same time, the price of the home can also increase. If you are ready to buy, that is usually the time you should buy! First Bank is always ready to assist you in the most important purchase of your life - owning your own home. Feel free to call upon any of our loan advisors to answer your questions and put you on the road to home ownership!
This is a legally binding agreement between buyer and seller which, when accepted by all parties, confirms the purchase price of the property. Usually, the buyer places a small amount of money in deposit as good faith (called "earnest money"). You should not sign a sales contract unless you have reviewed it carefully and perhaps even had it reviewed by an attorney. A contract is often contingent upon many things, such as mortgage loan approval, inspections of well and/or septic systems, satisfactory building inspection, and termite inspection. You should make sure your own rights are protected.

There are many acceptable sources of funds that you can use for a down payment. The most common are: personal savings or checking account, gift from a family member, 401(k) account, and down payment assistance programs. A Mortgage Home Loan Advisor is there to assist you with these options and more.

A general rule of thumb for determining if you can qualify for a new mortgage is to use 33% of your gross monthly income for housing.  The housing payment includes the monthly principal and interest on the mortgage, plus the property taxes and homeowners insurance. It is a good idea to also consider all the monthly amounts for car payments, leases, and revolving credit cards, plus the new housing payment at 38% of your gross monthly income.  Our Mortgage Home Loan Advisors can easily assist you to ensure you are able to qualify for the home you are considering purchasing.

Getting a mortgage can seem a bit overwhelming.  Using our online application, you have the ability to expedite the process and easily upload all your banking and income documents. Your Mortgage Home Loan Advisor will help your home loan experience go smoothly.

While it seems like one extra unnecessary step, a pre-approval strengthens any offer you make once you have decided on a home to purchase.

Generally you will need enough funds for your down payment, closing costs and two months of your new payment in reserves.

Home Loan Advisors
Allow one of our Home Loan Advisors to guide you every step of the way.