If you are buying or refinancing a home

1. If you are salaried: provide two years W-2 and one month of paystubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.

2. If you own rental property, please provide rental agreements and two years tax returns.

3. If you wish to speed up the approval process, please also provide three months bank statements for each bank, stock and mutual fund account.

4. Provide recent copies of any stock brokerage or IRA/401K accounts that you may have.

5. If you are requesting a cash out refinance please provide a letter explaining what you plan to do with the proceeds.Provide a copy of divorce decree if applicable.

6. If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.

If you are applying for a home equity loan

1. If you are salaried: provide two years W-2 and one month of paystubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.

2. If you own rental property, please provide rental agreements and two years tax returns.

3. Please provide a copy of the note on your first mortgage. This will normally be found in your closing loan documents.

4. Please provide a signed letter explaining what you plan to do with the proceeds.

5. Provide a copy of divorce decree if applicable.

6. If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.

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After organizing your documentation it's time to apply for a loan and obtain approval. This is where The A Team comes in.

Applying for a loan with The Alm Team is easy. Simply fill out the online form, here, at our web site, or give us a call and set up a meeting to talk with one of our experienced loan specialists.

You can reach us at 612-750-0925 or click here to e-mail us.

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After your loan is approved, you will be required to sign the final loan documents. This will normally take place in front of a notary public. Be prepared to:

1. Bring a cashiers check for your down payment and closing costs if required. Personal checks are normally not accepted.

2. Review the final loan documents. Make sure that the interest rate and loan terms are what you were promised. Also, verify that the name and address on the loan documents are accurate.

3. Sign the loan documents.

Your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.

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