Homebuyer Welcome Kit
At The Bank of England, we take pride in the being there when our borrowers need us, day and night. Our mission is to deliver total value to our customers. This means competitive price, HASSLE-FREE service, extensive product knowledge, and a friendly helpful attitude.
Since our doors opened in 1898 in England, Arkansas, The Bank of England has been providing down home service. Along with powerful nationwide mortgage loans, we offer clients peace of mind knowing they are working with a credible national mortgage banker.
Our success is due primarily to the talent of our people and access to hundreds of mortgage products at industry best pricing. Our management team has a combined 150 years of mortgage experience and is actively involved as members and board members on local, state and national mortgage broker and banker associations.
I take away from the process a company that
genuinely cares for each of their clients in all
situations of life and would recommend them to
anyone.
– Tracy, Florida
RICKIE MCWILLIAMS
CREDIT MANAGER
Meet Your Guide
Originally from Arkansas, my wife, Cameran, and I moved to Jacksonville, FL as an opportunity with Bank of England Jacksonville for our growing family. After graduating from the University of Central Arkansas with a Bachelor in Business Administration, I worked as a corporate accountant preparing financials for branches nationwide, managing mortgage transactions, and a point of contact for customer service at Bank of England Corporate in Little Rock, AR.
Being a credit manager has provided me a great opportunity to help people achieve their personal and financial goals through purchasing or refinancing their homes. I believe the two most important components that lead to a successful home purchase or refinance is great communication and attention to detail. I take pride in
communicating with my clients and making sure they know all the important details throughout the entire loan process. I look forward to working with you and helping you accomplish your goal in purchasing or refinancing your home.
Items Needed for Priority Qualification
Needed From Each Person on Application
❑ 2014 & 2013 Filed Tax Returns (all pages)
❑ 2014 & 2013 W2s (& 1099’s if applicable)
❑ Paystubs: Most recent 30 days consecutive
❑ Last 2 months of all asset statements (all pages)
Examples: Checking/savings account statements, stocks, 401k, etc.
❑ Copy of current mortgage & homeowners insurance statements if you currently own a property(s)
❑ Copy of Driver’s License (picture taken on phone then emailed is acceptable)
If You Are Self Employed
❑ Copy of 2014 & 2013 business tax returns (all pages)
If You Have Retirement Income
❑ Copy of your Social Security Award Letter for 2015
❑ Copy of 1099’s for Social Security for 2014 & 2013
❑ For pension income, award letter showing monthly amount & copy of 1099’s for 2014 & 2013
If You Have Child Support/Alimony Income
❑ Copy of full divorce decree/child support order (must continue for 3 years)
❑ Proof of money going into bank accounts for past 6 months
Thank you for choosing Bank of England for your mortgage needs! You will find the items needed for the Priority Qualification process below. Please gather these items (digitally or physically) and send to me when possible.
If you are missing any of the documents, please do not hesitate to send me what you already have. If you have any questions, please call or email.
I look forward to helping you and your family reach your financial goals! If you have any questions on these items, please let me know.
Mortgage Do & Don’t Guide
During the course of purchasing a home, it is very important to consult with your Mortgage Banker to ensure nothing compromises your mortgage eligibility. Use the guide below to guide your actions:
Do
Don’t
•
Get your documents to me as quickly as possible. Delays in obtaining documents or
signatures could delay the loan.
•
Pay all of your bills on time. If you are refinancing, this includes your existing
mortgage.
•
Borrow money for your earnest money/binder or money to close
•
Deposit large amounts of cash into bank account
•
Apply for a credit card, auto loan or co-sign a loan
•
Close any existing lines of credit
•
Max out, consolidate or miss payments on your existing credit cards
•
Change your name
•
Dispute accounts
•
Spend funds marked for closing
•
Change your employer/job/income
•
Schedule any services until the closing date has been confirmed by both Bank of
England and the title company. This includes, but is not limited to floor installation,
painters, movers, television/internet services and so forth. If you want to schedule
these services, please confirm the closing date beforehand.
The Mortgage Process
All mortgages are separate and unique. Some steps might differ based on loan scenario.
Step 1: Application & Priority Qualification
• Loan Application Completed • Priority Qualification Letter Issued
Step 2: Purchase Contract
• Agreement of Purchase Price & Terms • Loan Estimate (LE) Issued
Step 3: Loan Processing
• Gather Any Remaining Info/Documents • Appraisal & Title Work Ordered
Step 4: Underwriting/Conditional Loan Approval
• Loan Approval Conditions Provided • Required Documents Collected
Step 5: Final Approval/Closing Processing
• Clear to Close Issued/Closing Scheduled
• Closing Disclosure (CD) issued 4 Days Before Closing
Step 6: Closing
• Bring IDs/Funds to Close • Sign Closing Documents
