Simplifying The Homebuying Process

Resources

Mint Mortgage is based in Miramar, FL, and works with clients across the greater Miami and Fort Lauderdale areas. Since 2005, we have been a trusted name for reliable services and expert results. Our team is known for its high character, high competence, and high communication skills. We are dedicated to helping our clients make their dreams of homeownership into a reality.

We have put together the following resources to help you better understand the mortgage process and make an informed decision. To learn more about our services or to begin your pre-approval process, please contact us today at 305-228-7600.

Online Forms

The forms below will assist you in your mortgage process. If you need assistance or have questions, please do hesitate to reach out to our staff.

Frequently Asked Questions

What documents do I need to prepare for my loan application?
  • Clear copy of driver’s license
  • Last two years W2’s and federal tax returns (all schedules, all pages)
  • Last 30 days paycheck stubs
  • Documentation of Social Security awards letter and/or pension (if applicable)
  • If self-employed, please provide your most recent business license and all corporate returns with all schedules. If a business license is not available, please provide a CPA letter.
  • Last two months bank statements (checking, savings, 401k, etc.). Please be sure to include all pages, even if blank.

For current property owners or mortgage holders, please provide the following for all additional properties owned:

  • Current Mortgage Statements
  • Homeowners Insurance Declaration Page
  • Current HOA Statement (if applicable).
What does it mean to lock the interest rate?

Depending on the market, mortgage rates can change from the day you apply for a loan to the day you close on your home. A sharp rise in interest rates during the application process can unexpectedly increase your mortgage payment. For some homebuyers, a lender may allow the borrower to “lock-in” the loan interest rate. This guarantees the rate for a specified time (typically 30-60 days), sometimes for a fee.

We’re here to answer your questions! Give our friendly staff a call today at 305-228-7600.

What happens at closing?
At your closing, ownership of the property is officially transferred from the seller to you. With today’s technology, the closing is less of an event and more of a series of steps to facilitate the transfer of ownership. Typically, a closing is run by a closing agent or real estate attorney. Their role is to help you understand each form you are signing and make sure all contingencies are met.
What is an appraisal?
This is an estimate of a property’s fair market value. Depending on the loan program, this document is generally required by a lender before loan approval. This ensures that the mortgage amount is not more than the value of the property.

An appraisal is performed by an appraiser, who is typically a state-licensed professional trained to provide an unbiased opinion regarding the value of a home. Many factors influence the value of a property, including its location, physical condition, and amenities.

What is PMI (Private Mortgage Insurance)?

With conventional mortgages, when your down payment is less than 20% of the purchase price of the home, lenders usually require the buyer to get Private Mortgage Insurance (PMI). This protects the lender in the event you default on your mortgage.

In some cases, you may need to pay up to one year’s worth of Private Mortgage Insurance premiums at closing. This can cost several hundred dollars. To avoid this extra expense, it is best to make a 20% down-payment or ask us about other loan program options.

Have additional questions? Ready to begin your mortgage process? Choose Mint Mortgage! Contact us at 305-228-7600 to start your journey to homeownership!

Mint Mortgage
3601 SW 160 Avenue
Suite 320
Miramar, FL 33027

Phone: 305-228-7600

Fax: 305-520-0200

Email: info@mymintmortgage.com

Company NMLS: #4130876
NMLS #231073