Required Documents & Fees
- Two months of most recent pay stubs
- Past two (2) years W-2 statements
- Two most recent monthly bank statements
- Most recent transaction summary of 401K, IRA, or Mutual Fund Accounts
- Name and phone number of hazard insurance carrier
- Copy of the purchase and/or sales agreement
- A letter of explanation for any known credit problems, if applicable
- If divorced…a fully executed divorce decree, if applicable
For self employed borrowers, employed in sales, paid by commission, or owners of rental real estate:
- Two (2) years signed personal tax returns - including all schedules
- If self-employed through a corporation, last two years corporate returns
Different programs require varying amounts of documentation. The loan program you select may require more or less documentation.
Unlike most other mortgage lenders, Boulder Valley CU does not charge origination points or discount points. The following is a list of our typical loan fees on a mortgage without discount points. They may or may not be a final representation of the fees you pay should you do your mortgage with us. Your Mortgage Loan Officer will discuss this in depth with you as part of the mortgage loan process.
|Flood Certificate Fee||$10.00
|Closing or Escrow Fee – Title Company*||$500.00|
|Courier/Edoc Fee – Title Company*||$25.00|
|Tax Certificate - Title Company*||$25.00|
|Title Insurance - Title Company*||$500.00|
|Recording Fees - Clerk & Recorder*||$200.00|
|Endorsements – Title Company*||$200.00|
|State Tax/Stamps - County||$100.00|
|Total Loan Fees||$3,100.70
* Estimated Fee – As these fees are not credit union related, we have provided them as a high estimation for what you can expect to pay on your purchase/refinance.
There are also items that must be prepaid associated with a mortgage purchase or refinance that must be prepaid in escrow. These are not additional fees, they are expenses which are prepaid to cover items such as homeowners insurance, initial interest payment on your new mortgage, and mortgage insurance (if required). As these prepaid items vary dependent on loan type and terms, please contact us for an estimation of these prepaid items.