Mortgages
Do I have to give you my bank statements and tax returns?
What happens if I lock in my interest rate and rates fall?
Can I qualify for a loan if I've had some credit problems in the past?
Does Mortgage Insurance pay off my loan balance if I die?
Is my personal information secure?
Will you sell my personal information to other people?

Mortgages

Do I have to give you my bank statements and tax returns?

The income and asset documentation required to close your loan will depend on the source of your income, the equity position in your home and your credit history.

When you receive a loan approval we'll tell you what income and asset documentation is needed. We'll ask you to fax or mail the documents to Lehman Brothers Bank within the next 48 hours so that we can move quickly to set up your loan closing. For most customers, a bank or brokerage statement, a W-2 and the most recent pay stub will be all that is needed upfront.

What happens if I lock in my interest rate and rates fall?

Your interest rate will remain at the locked rate level, regardless of whether rates rise or fall.

Can I qualify for a loan if I've had some credit problems in the past?

Maybe. Your credit history is an important consideration in making a loan decision. It will depend on the extent and type of credit problems you've had. Lehman Brothers Bank will consider how you have used credit, your history of making payments on time, and the extent to which you leverage credit now to meet your monthly obligations. We'll look carefully at your ability and willingness to meet your obligations over the last 24 months.

There are alternative lending programs available for borrowers with past credit problems, including prior bankruptcies. If we cannot help you meet your home financing needs with a traditional loan, we may be able to suggest other options to you. Please call one of our loan officers to discuss your personal situation in detail.

Does Mortgage Insurance pay off my loan balance if I die?

No. You would need to purchase credit life insurance with a death benefit coverage option. Mortgage insurance protects the lender in case of a borrower's default. It is not a form of life insurance.

Is my personal information secure?

Yes. Please read about our Privacy Policy.

Will you sell my personal information to other people?

Not without your permission. See our privacy policy for details.