About The Process
Steps to Expect
- Set up your Encompass account.
- Complete the application leaving any income received from First Federal Bank of Kansas City blank.
- You may be asked to provide paystubs later.
- You will be contacted by Janet Brown-Kendall to discuss the loan and confirm things such as your expected close date and type of transaction.
- The loan will be underwritten according to normal underwriting guidelines.
- The property will be appraised.
Transaction Types
PURCHASE
- On a purchase transaction you will be expected to provide the executed sales contract and the source of your down payment funds (example: savings or checking account statements or proof of sale of current home).
- You will need to secure home owner’s insurance and provide proof of insurance from the company/agent of your choice.
- You may be asked to provide other supporting documentation or tax returns in some cases.
- Once the loan has been approved and all the documentation has been collected a closing date and time will be coordinated.
Common Documentation Needed
Possible common documents needed for mortgage applications:
Bank statements (up to 2 months consecutive)
Spousal W-2s (up to 2 years)
Spousal Paystubs (30 days)
Tax Returns (if additional income used)
Homeowner's insurance declaration page
Current mortgage statement (on all properties owned)
Sales Contract (if purchase)