The Debra Whaley Team  Cell: (865) 984-4444 Office: (865) 983-0011  Email: Debra@DebraWhaley.com   

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Getting the Loan

Different lenders have different requirements when you apply for a mortgage, but they all boil down to one theme: The lender wants to take a close look at your finances to make sure you can and will repay the loan.

The Internet makes this process faster and simpler than ever before, because your lenders can more easily check your financial information. Each lender has different needs when it comes to documentation. Typical requirements include your Social Security number; past tax returns and documentation; employment and credit information; a list of any bank, investment or other financial accounts; credit references, including past lenders and landlords; a list of any credit cards or loans in your name; and your permission to verify the information with lenders, creditors and other third parties. If you're married, the lender also will need the same information for your spouse.

If you haven't already checked your credit report, do it before you apply for pre-approval. If there are problems in your financial or credit history, you need to know about them before you start approaching lenders. And, if there are errors in your report, you can start the process of correcting them and mention them to your lender when you apply.

What's in a Payment?

Your mortgage payment has three main parts:

  • Principal: The amount of your loan you're actually paying off.
  • Interest: The interest charges on the remaining principal.
  • Escrow: One month's worth of property taxes, homeowner's insurance and, if applicable, mortgage insurance.

The escrow payment goes into a special account with your lender, which then is used to pay your annual taxes and insurance.

Contact Information

Debra Whaley
Realty Executives Associates
1213 W Lamar Alexander Pkwy
Maryville, TN 37801
Phone:(865) 983-0011

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Realty Executives Associates is licensed in the state of Tennessee. The Fair Housing Act prohibits discrimination in the sale, lease, or rental of housing, or making housing otherwise unavailable because of race, color, religion, sex, national origin, familial status, or disability. By registering on this website (providing your name and/or contact information) you are making an inquiry and are granting permission for an agent to contact you via telephone and/or email, regardless if you are registered with the national, state, or other Do Not Call list. The data relating to real estate for sale on this website is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Some or all of the listings on this website may not belong to Realty Executives Associates. Each office is independently owned and operated.

State License Number(s):
Sherry Paul: TN # 322290
Debra Whaley: N/A # 294208