If you’re in the market for a new home loan then Bills.com could definitely be worth a try. Bills.com matches you with lenders who can prioritize you as a customer and offer you the most competitive rates available. Bills.com can show you as many as 10 loan offers in less than 10 seconds. All you have to do is answer a few questions about yourself and your desired home. Offers can be sorted by “top three,” or even by factors including APR or fees. The form takes less than a minute to fill out, so why not start today!
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Bills.com Mortgage Summary:
- Apply Now
- Maximum Loan: Varies by lender.
- Account Type: Mortgage Loans
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Monthly Fee: No maintenance fees
- Closing Loan: Varies
Bills.com Mortgage Basic Requirements:
Income Documents:
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
Asset Documents:
- Two most recent months’ bank statements. All of the pages.
Other Documents:
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
Bills.com Features:
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Get low mortgage rates
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Choose from a multitude of lenders
- Sort loan offers by APR, interest rate, payment or fees
How to Get Loan:
- Make your loan request. You would need to select the type of loan and complete the online request form. Be sure to also use the mortgage calculator if you need any help determining realistic figures.
- Wait for lenders to get in touch with you. Once you have submitted the loan request, your information will be sold to direct lenders. They usually flood in 5 minutes after Bills.com sends them your information (exaggeration). They’d contact you via email and phone calls prompting their loan offer.
- Take your pick from the loans offered. Like I said, this is supposed to offer you more competitive loans since banks are practically fighting for your business.
Conclusion:
Bills.com eliminates the time wasted comparing rates by offering you a range of lenders readily available to contact you with better competitive rates. However, I must note that lower rates isn’t always the case with this service, even if your credit score is deemed “Very Good.” You’re going to have a little bit of trouble finding what you need with their 15-Year to 30-Year Fixed loans terms. Also, giving out personal information to Bills.com so lenders can bombard me with emails and calls sounds like a complete nuisance to me. Some pros, they show you the closing cost and the form takes less than 1 minute to complete. Also, be sure to check out our Best Mortgage Rates for all of your home buying dreams!
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