So we're doing a two-time close construction loan, and we started the pre-qual process way back in June (long story there mostly due to well issues). My LO said in order to give us an accurate mortgage disclosure, she'd need the sales agreement from our builder so she can see the numbers. I am reading two conflicting things online: one says you get the disclosure first, then you apply for the loan, but others say you fill out the mortgage application, THEN get your mortgage disclosure.
So far, they have the following information from us:
-Copies of my last 2 year's tax returns (I am self-employed - they requested these as a condition for pre-qual to review)
-A hard pull for our credit from the initial pre-qual.
-A copy of the ratified contract for the land, signed by us and the seller
-A copy of our earnest money check made out and delivered to the title company
-The title commitment paperwork from title company for the land
-Well test and inspection report
-A basic online "short application" that was used for our pre-qual amount letter
-The signed sales agreement between us and the builder with total numbers for construction/the home including upgrades and allowances
So--we still have not been told what is next and if we need to fill out the long application, or if we get the disclosure first, THEN fill it out. They do not have my husband's W2s yet (we haven't been asked to submit them yet). I see lenders have 3 days to give you the disclosure, I just want to make sure we will likely get that first, or if I need to contact her again and start filling out the full application? I sent the final items including title commitment and builder sales agreement to her yesterday, and she confirmed receipt. Any insight?
