Mortgage application questions

What kind of information do I need to provide Faith Financial Group on my loan application?

You will need to provide credit, income, asset, and liability information, including your income, residence, and personal identification. Save time and expedite your application by collecting it before you begin the process.

Here's the information you'll need to have handy:

PERSONAL
Employment and salary history for the past two years
Addresses of your residences for the past two years, as well as landlords (if applicable)
Your social security number and that of your co-borrower(s)

FINANCIAL
Your current income - this includes your base salary, any commissions or bonuses, dividends, etc. (income from alimony, child support or separate maintenance payment need not be revealed if you don't want it to be considered as a basis for repaying the obligation) Numbers and locations of your bank accounts Bank/investment account numbers, balances, and names of the institutions holding them
As we continue with your loan process after your online pre-approval, you will need to supply us with pay stubs from your employer covering the last 30 days prior to completing your loan application.

If you are self-employed or compensated by commissions, you will need to supply your federal tax returns for the most recent year you filed and the year preceding that one (two years total).

What is Faith Financial Group's decision process?

After you complete your application, Faith Financial Group will review your information in order to assess the risk involved with your particular loan and situation. ditech.com also prepares the necessary documentation to process the loan and satisfy government regulations.

If you are approved, you will be presented with a short list of documents you will need to provide to allow us to process your loan. These items will primarily include verification of your income and perhaps a request for W-2s, income tax returns, or similar information.

Immediately after your online pre-approval, you will be mailed a loan application for review. It will contain all of the information that you've entered during your online session. Please review it carefully and make any corrections or changes that you feel are necessary. ditech.com will contact you with specific requests for any additional information that you may need to provide. ditech.com may also need to discuss your credit history with you.

What is Faith Financial Group's rolldown option?

Our rolldown option allows you to refinance with few upfront fees! While the rate is slightly higher, you will pay few upfront fees to get your new loan. In effect, as long as our rolldown rate is lower than your existing rate, it makes financial sense to refinance because there is little or no cost in doing so.

*A "rolldown" loan is one in which the lender pays all non-recurring closing costs for the borrower. The borrower is still responsible for paying all prepaid interest, property taxes, and hazard insurance, as well as all other recurring items. Minimum loan amount for the rolldown is $150,000. Closing costs assume that the borrower will escrow monthly property tax and insurance payments.

What is ditech.com's streamlined online pre-approval process?

Faith Financial Group's streamlined, centralized, and high-tech business method completes most of the work for your pre-approval by the time you get your online pre-approval. The bottom line is that you simply won't have to wait long and you won't be waiting in suspense. You'll already be conditionally approved.

How do I sign my final loan documents?

For a purchase, you will be using an attorney, escrow company, or title insurance company, depending on the state in which you live. In some states, for a refinance or second mortgage, Faith Financial Group will send a document signer to your home or another place that you designate so you can sign all your loan documents.

What if I want to talk to a loan agent?

You can talk to a loan agent at any time by calling 1-888-334-1114.