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Applications & Processing

Mortgage Brokers and Lenders – Who Does What?

The mortgage broker is the person or company who is your main contact throughout your loan. They are often able to work with a number of lenders, who actually provide the funds for the loan. Typically, the lender pays the mortgage broker a fee for acting as the intermediary and providing all the customer service.

Filling Out the Application

There are standard forms to be completed when applying for a loan. Some mortgage brokers keep these on their website so you can fill out and submit the forms on line. The information will be verified and used to qualify you for your loan, so take the time to answer questions accurately.

Documentation

The mortgage broker will need copies of the documents you began gathering in the first phase of the loan process, including:

  • Either 2 years of W-2 forms from your employer or 2 years of tax returns if you are self-employed
  • Recent pay stubs
  • 3 months bank and money market statements
  • Brokerage, mutual fund and retirement account statements
  • Proof of other income sources (alimony, trusts, rental income, etc.)
  • Credit card statements
  • Auto /boat / student / miscellaneous loans
  • Drivers’ license or form of ID
  • If you’re not a US citizen, then copy of your green card or visa
  • Copy of any existing mortgage debts if you are applying for a home equity line of credit or another mortgage

Stay in Communication

The lender will have an analyst, usually called an "underwriter", crunch your numbers and verify your documentation to confirm your ability to repay the loan. Once you are in contract on a property, there may

also be a loan approval committee which will meet to review the underwriters’ conclusions regarding your creditworthiness, and to evaluate the property on which they are lending. This is called the underwriting process, and questions

are bound to arise. Be sure to return your mortgage broker’s calls promptly to keep the process moving forward smoothly. Check in with your broker periodically.

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Social Reviews

Coldwell Banker Vanguard Realty, Erin E. King MBA IconColdwell Banker Vanguard Realty, Erin E. King MBA

3610 Saint Johns Avenue Suite #103, Jacksonville

5.0 7 reviews

  • Avatar Nick Freeman ★★★★★ 10 months ago
    Erin was excellent! He made the home buying process for my wife and I simple and stress free. His expertise and knowledge of the historic homes of Jacksonville allowed us to feel confident in our decision to buy a historic home. We interacted … More with multiple realtors prior to meeting Erin and I must say he was by far the most impressive. His authenticity and genuine interest in findings us the right home really set him apart from others. I highly recommend working with Erin King.
  • Avatar lindsey kilbride ★★★★★ 11 months ago
    Talk about a stress-free experience purchasing my first home! Having Erin King as my realtor was the best decision. He knows his stuff and helped me get a great price on my dream first home in a seller’s market. He did a tremendous job … More negotiating. There’s no pressure with him and he’s not going to let a buyer settle for a home that isn’t the right fit. There were no surprises throughout the closing process as he keeps his buyers in the loop. Even when a minor issue came up with the appraisal, he called me with his plan to remedy the problem and it was fixed that week. Erin truly looks out for his clients, alerting of any red flags but is reassuring about bumps during the process that can be easily handled — that’s why his wealth of knowledge and experience is such an asset, he’s seen it all. A bonus: he’s really nice and funny! Great person to work with. I highly recommend him.
  • Avatar Roberto Vieira ★★★★★ 9 months ago
    This was my first time buying a house and Erin made the entire process seamless. His knowledge and attitude allowed me to decide on a house with confidence and the fact that he is on your corner during the entire process, does make you … More very at ease. Buying a first house didn't have to be scary. Who knew!
  • Avatar life changer ministry ★★★★★ a year ago
    Erin is by far the best realtor I worked with. I really enjoyed working with him. He has a wealth of knowledge about the housing market as well as home inspection. He is also a great negotiator. Was able to close on my house in 28 day … More and i had zero sleepless night. Didn't have to worry about a thing. Everytime I had a question he always had an answer and always returned my calls promptly. Erin is my realtor for life. I Will be referring Erin to all my friends and family members.
  • Avatar Kerry Fitzgerald ★★★★★ a year ago
    My experience working with Erin was by far the best I have ever encountered with a realtor. He quickly identified important aspects that I wanted in a home and was able to narrow down key properties to consider. In addition Erin’s displayed … More strong knowhow through his extensive knowledge of the areas and market I was considering. Balancing pros/cons and keeping me well informed at every step. By leveraging his strong listen skills and attention to detail we found my dream home in a very short time. Erin continued to support me throughout the sales process and well after to ensure my expectations were met and exceeded. I would absolutely recommend Erin to any of my colleagues, friends and family on future home purchases.

Coldwell Banker Vanguard Realty - Erin E King MBA REALTOR
5.0
Based on 4 reviews
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Alpha Foundations
Alpha Foundations
16 hours ago
The team showed up when I was told they would to encapsulate the crawlspace of my 1924 bungalow in Avondale. Like many folks with above grade homes our home suffered from very high humidity levels. The Foreman was informative and professional as well as the rest of the team. They began work immediately and graciously answered every single one of my questions (I ask a lot of questions). They worked, the first day, until dark, and returned very early the next morning to finish up. Here we are just 24 hours later and my home feels, already, more comfortable than I can remember. The clean space crawl space, although a big investment, is worth every single penny. Their 25 year warranty, and emergency call number if something happens is very reassuring they will be there for me down the road if I need them.
The Happy Grilled Cheese
The Happy Grilled Cheese
1 day ago
The bricks and mortar version is just as good as the truck itself. Best grilled cheeses!!! Yum!
First Watch - Riverside
First Watch - Riverside
1 month ago
For being less than thirty days old, the location is performing well above par. We were greeted the moment we hit the door, we sat at the bar top, and received excellent service. The food was delivered promptly considering the volume. Excellent work all around, keep it up and welcome to Riverside!!!
Good Dough
Good Dough
2 months ago
Excellent first experience!! We will definitely be back.
David M.
David M.
2020-04-14 07:12:21
My wife and I worked with Erin when he was at Bloom Realty to buy our first home in 2018. We had a great experience. As first-time homebuyers from out of...
Simone J.
Simone J.
2020-03-13 11:57:13
Erin is the best! If you are looking for someone who tells you like it is, and points you towards what you want and actually needs, he is the realtor for...