Quick Start! Online Information Request
Mortgage & Rate Calculator
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.Stage 1: APPLICATION - Compile Documents and Submit
Your business is important to us and we are committed to ensuring that you and your loan receive the highest level
of care and attention throughout the entire mortgage process. You may be asked for some or all of this
documentation during the application process. If you apply online or over the phone, a Mortgage Loan Originator
will ask you to either fax or mail these documents.
Download printable Document Checklist.
- Pay stubs for the last 30 days
- W-2 forms for the last two years
- Tax returns for past two years (personal and business if applicable)
- Year-to-date Profit & Loss statement (unaudited in most cases)
- Bank statements for the past two months reflecting sufficient funds to close and required case reserves
- NOTE: Large deposits will need to be explained and its source verified.
- Investment account statements for the past two months - Life insurance policy
- Retirement account statements for the past two months
- Credit card account(s)
- Auto loan account(s)
- Personal loan account(s)
- Photo identification is required
- Copy of current Mortgage account(s) statements or current tax bill(s) for all properties
- Copy of current Home equity account(s) statements
- Home insurance policy and broker contact information
Download printable Document Checklist.
Stage 2: PROCESSING - Process and Verify
Your Loan Originator, coordinating with your Loan Processor, will review the documents you've submitted for completeness and will request the necessary third party verifications and evaluations. Once all third party requests have been received, the file will be reviewed for accuracy and the loan will be sent to Underwriting for review.
- An appraisal is ordered from a Luxury Mortgage Corp approved appraiser.
- NOTE: A contact person (either you or your realtor) is required for access to the home.
- Other third party verifications are performed during this stage.
Stage 3: UNDERWRITE - Analyse and Disposition
The goal of the Underwriter is to review applicants' credit worthiness and insure they have sufficient income to support the requested loan. While we aim to provide the underwriters all the pertinent information to support your financial profile, each case is different and underwriters may ask for additional supporting documentation.
Here are some insights that will help avoid some of these requests. (LINK TO INSIGHTS)
Stage 4: CLOSING - Gathering Final information and Scheduling the closing
Our Closing team reviews the file for legal and compliance-related items, addresses any open loans or municipality restrictions in the title history of the property and coordinates the time and location of the closing. Items that are of importance for closing:
Prior To Closing- Homeowners Insurance naming Luxury Mortgage (your new lender) as the additionally insured.
- NOTE: Provide the name and contact information for your insurance broker and we'll do the rest.
- Schedule appointment to walk through property one last time
- Transfer utilities accounts
- Ensure closing cost funds are available
- Photo Identification: Bring your drivers license
- Binder for Homeowners Insurance & Paid Receipt
- Certified or Cashier's Check (for your down payment and closing costs)
- Clear your evening to celebrate
Latest News In the industry and at LuxuryMortgage Corp®
5/14/13
Please welcome our newest employee, Amanda Harter. Amanda joined Luxury Mortgage as a part-time Marketing Assistant in our White Plains office.
5/13/12
A great article by David Marinoff, Branch Manager at Luxury Mortgage Corp discussing "The Coming (Jumbo) Housing Boom"
View Article
5/1/13
David Adamo & Bankrate.com: Writer Polyana da Costa from Bankrate.com quoted David Adamo, CEO of Luxury Mortgage Corp in the article "Jumbo Mortgage Offer Low Rates, Strict Terms".
View Article
4/18/13
David Adamo & The Wall Street Journal: Writer Anya Martin from The Wall Street Journal quoted David Adamo, CEO of Luxury Mortgage Corp in the article "When First-Timers Look Risky to Lenders".
View Article
4/13
Marc Kunen, Managing Director at Luxury Mortgage speaks with Mann Report Residential on "Securing Success in Mortgage Financing".
View Article
4/08/13
Please welcome two great additions to our Luxury Mortgage family: Jackie Strauch, who joined us today as a Closing Administrator in our Stamford office & Christopher Sera, who will be working as a Senior Loan Processor in our new Westport office!
4/01/13
Here's another recent broadcasted appearance by Peter Grabel, Senior Mortgage Loan Originator, on NY1 News discussing some of the changes regarding FHA mortgages: click here.
3/21/13
David Adamo & The New York Times: Writer Lisa Prevost from The New York Times quoted David Adamo, CEO of Luxury Mortgage Corp in the article "Loans for a Niche Market".
Click here
3/18/13
WIth the number of people filing claims for jobless benefits over the past four weeks dropping to the lowest level since March 2008, and the February jobs report showing that hiring in construction jumped by the most in almost six years, forecasts for U.S. home price gains are more than doubling: Click here.
3/15/13
Wishing you all a wonderful Happy St. Patrick's Weekend: Click here.
2/26/13
A great post by Tim Galu, Sr. Mortgage Loan Originator at Luxury Mortgage, on being awarded #1 in sales volume at Luxury Mortgage for 2012: Click here.
1/28/13
A Limited Time Offer: Do you have a credit score of 760 or higher? You might be qualified to get the same interest rate for your Interest Only product as you would for a fully amortizing Jumbo ARM! Contact your Mortgage Loan Originator today for more details.
1/26/13
Southport becomes Westport! Moving Day: Now WE'RE the one's moving! Our Southport branch has just officially become our new Westport branch. Please make note of our new address: 251 Riverside Avenue, Westport, CT 06880 (And can we borrow some sugar?)
1/24/13
Peter Grabel & The New York Times: Peter Grabel, Senior Mortgage Loan Originator, speaks with New York Times writer Lisa Prevost regarding how deals for high-end homes are becoming complicated by unexpectedly low appraisal values. Click here.
1/21/13
Tony Devita Shows His Support: Congrats to Tony Devita, Sr. Mortgage Loan Originator, for generously supporting another successful Greenwich Alliance for Education's Turkey Trot. The proceeds from this event benefit Alliance programs which provide services for public school students in the Greenwich area.
1/14/13
Another Great Addition: Luxury Mortgage welcomes Stamford's new Processor, Paola Hernandez, to our team.
1/10/13
Interested in Interest Only?: Our new 10 year Interest Only ARM is currently at a rockbottom rate up to 3mm! If there was ever a time to get in touch with us regarding this product, it is today!
1/07/13
Welcome, Terry! - Luxury Mortgage is proud to announce that Terri McMahan will be working as an Underwriter in our new Westport Branch. Welcome to the team!
1/03/13
Bringing in the New Year: What better way to start off our new year than with a wonderful addition to our team. Luxury welcomes Senior Mortgage Loan Originator, Tim Aylesworth, to our new Westport Branch.
12/25/12
Home Sweet Home Holidays: Wishing you a sweet home, a wonderful holiday and a Happy New Year! View on Facebook
11/21/12
Gratitude: We'd like to wish everyone a happy Thanksgiving and a joyous start to this holiday season. To quote Luxury Mortgage's President, Rob Grosser, "This year, more than usual, we have much to be thankful for. The devastation we witnessed from Sandy was truly unprecedented. Our hearts go out to all those who were severely impacted... Thanksgiving is the quintessential American holiday. It is a time to reflect on many gifts that have been bestowed upon us. Let us remember those who are less fortunate, and express gratitude to all the first responders and the men and women of our armed forces." Enjoy the holiday and stay safe everyone!
10/25/12
We're looking GOOD New York! : Our NYC office has undergone some major renovations and gotten a fresh coat of paint. Be sure to stop by soon!
10/16/12
National Breast Cancer Awareness Month: In honor of National Breast Cancer Awareness month, here's our White Plains office today looking very pretty in pink: Click here.
9/26/12
Michael Dolan Shows His Support: Michael Dolan, Manager of our Southport Branch, and Luxury Mortgage recently sponsored the Homes for the Brave Golf Tournament. Homes for the Brave has a shelter in Bridgeport, CT for homeless veterans. They provide housing and services necessary to help homeless veterans return to a productive and meaningful life. If you'd like to learn more or donate, please goto:www.homesforthebrave.org
Luxury Mortgage Corp®, luxurymortgage.comR and Luxury Mortgage® are registered servicemarks of Luxury Mortgage Corp. All Rights Reserved. Headquarters:
Four Landmark Square, Suite 300, Stamford, CT 06901.
NMLS Entity # 2745