If you are borrowing money to purchase your home, the first step in the home buying process is choosing a lender. Sellers will want to see a letter from the lender which expresses some type of “pre-approval” for a mortgage. This letters generally accompany the offer to purchase. So, be ready when you find the home of your dreams. Have your mortgage “in process”.

My first question to buyers is to ask who they have in mind for a lender. Sometimes, buyers have an established relationship with a lender. Often, this is not the case, especially with first time homebuyers. My recommendation is that you have a face-to-face relationship with your mortgage banker. It is much easier to move the process along if you can see the person and talk with them by phone.

If buyers do not have a lender, I do make some recommendations. The following are two lenders that have proven to provide excellent service to buyers.

Ashley Smyth
Bank of England (Arkansas) Mortgage
444 Lewis Hargett Circle, #220
Lexington, KY 40503
Cell #: 859-771-6422

Tom Breathitt
Central Bank Mortgage
2400 Harrodsburg Road
Lexington, KY 40503
Cell #: 859-221-4964

Documents Needed for Loan Applications

1. Most recent two years federal tax returns with all schedules. (if self-employed we will also need the last two years of business returns.)

2. Most recent two years W2s and/or 1099s

3. Most recent two months bank statements (all pages)

4. Most recent paystubs covering at least 30 days

5. Recent mortgage statements from any other real estate owned.

If you need help finding a lender, please email me at kay@kaywrightrealestate.com.