Information for applicants who are selling a home:
- If your home has recently sold, we will need a copy of your closing statement from the escrow company showing that your loan will be paid in full.
- If your home has not yet sold, if it is in contract, we will need the estimated closing date and your estimated closing statement from the escrow company.
- If your home is on the market but not yet in contract, we will need the contact information from your agent. If they expect the home to take more than 45 days to go into contract, and/or more than 90 days total to close from the date of application, we will require either an increased security deposit or must factor that mortgage into your DTI calculation.
- If your home is not on the market, we must factor your mortgage into the DTI calculation.