Mike Watson

Northern Bank Regional Manager

Central Bank of Boone County
216 W. Railroad St.
Centralia, MO 65240
p: (573) 682-2088
Email Mike
NMLS# 541802

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Mortgage Checklist

This checklist can help you gather the documents you need to proceed with the loan.

  • Completed Loan Application and Signed Authorization
  • Homeowners Insurance Declaration Page (If refinancing)
  • Current Mortgage Statement (If applicable)
  • W2s from last two years
  • 30 days pay stub with YTD earnings
  • 2 months current bank statements, all pages
  • Social Security or Pension Awards letters (If applicable)
  • 2 Years tax returns
  • Divorce Decree (If applicable)
  • Trust Documents (If applicable)

Click here for a printable checklist

Mike started working for Central Bank of Boone County in 1998. His real estate background and 15 years of mortgage lending experience makes him a knowledgeable resource for his customers looking to buy a home. Mike's goal with all of his customers is to get them into the best loan product to fit their needs. He believes personal service and local decision-making gives the customer piece of mind during the loan process and quickly gets them into the home of their dreams.

Calculate Your Future Mortgage Payment

The parts of your monthly mortgage payment include both repayment of the loan principal and the monthly interest on the outstanding balance. A mortgage payment can also include pre-payments on property taxes, homeowner’s insurance and monthly homeowner’s association dues into an escrow account managed by your lender. Calculate your estimated yearly costs below and monthly payment to help you decide how much you can afford.

 

 

Mortgages 101: Fixed Vs. Adjustable [Infographic]

Making the choice to buy a home is quickly followed by a plethora of other decisions you will have to carry out, like where the house will be located and what you want in your perfect new abode. One of the most important decisions you'll need to make is what type of mortgage works best for you.

This choice is crucial because it will affect your finances for the next few years, if not decades, of your life. There are so many options that first-time homebuyers, or even experienced homebuyers, might feel overwhelmed with the decision.

However, once you understand the pros and cons of the various mortgage options, this decision will be easier for you. (read more...)