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Mortgage & Refinancing Tips

4 Tips to Consider for a Mortgage or Refinancing

Written by: Morgan Fornoff, Vice President Lending
Assistant Vice President, Morgan Fornoff standing in front of house on the sidewalk behind a sign that says, "Financing Provided by: Flatwater Bank"1. Know your credit profile: Nothing is more important than knowing and understanding your credit. You can get a free copy of your credit report at A review might identify things that can be done ahead of time to put you in a more ideal financial situation.
2. Know what you can realistically afford: We like to talk to clients ahead of time to help establish what they can afford. Having a clear picture of what you are able to pay is essential and will make the entire process smoother.

3. Be patient: Buying a home will possibly be one of the largest financial decisions you'll ever make. A little preparation ahead of time will allow everything to fall in place when you find the home of your dreams.

4. Put together documents that will assist in the pre-approval process. It can be overwhelming to customers that are looking for a quick turnaround time when they learn about the documents required as part of the process. Here are some of the things you will need:

  • Proof of income- (W-2s, recent pay stubs, etc. and if self-employed, 2 years tax returns).
  • Assets- including 2-3 months of statements from checking and savings accounts, retirement, and stock/investment accounts.
  • Debts- A list of all debts (a credit report will be pulled for verification) and documentation of any alimony or child support payments or other liability requirements.
  • Other- Documents including 2-years of employment and address history, driver's license or valid State ID, and any other documents impacting your ability to pay (i.e. bankruptcy documents, gift letters, etc.)
This isn't necessarily a complete list, but it is a great start. We look forward to working with you and assisting you with your mortgage needs.

Use this calculator to help determine which mortgage term is right for you. Input sample mortgage amounts and interest rates to see a comparison. If you are ready to take the next step and apply for your loan, we are here for you,