Carol Richardson - ALCOVA Mortgage
Profile picture of Carol Richardson - ALCOVA Mortgage
Carol Richardson
Loan Officer
NMLS ID# 624077 | Licensed In: VA
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Get to know me

Originally from: Bronx, New York

What I like about this business: You can learn something new every day

Favorite local activities: Traveling, exercising and spending time with family

Movies I like: The Five Heart Beats, The Pursuit of Happiness, Beaches, Titanic

Local hangouts I like: Pietro's Pizza, Momma J's, The Croaker Spot

What I'm involved in: Girl Scouts, Basketball and Football

My dream vacation is: Antigua and Cruises


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5309 Commonwealth Centre Pkwy, Suite 240 Midlothian, VA 23112

About Carol Richardson

Carol is originally from New York, but in 2012 she decided to move to Virginia to be closer to her family. In 1985, she started her banking career at JP Morgan Chase where she held various customer service positions. In 1993, Carol joined the mortgage department at JPMorgan Chase and one of her great passions was helping first-time homebuyers realize their dream of homeownership. She believes that whether it is your first or your last home, communication and trust are key to a successful relationship.

Carol is a married mother of three and a grandmother of four. In her free time, she enjoys traveling and spending time with her family.

From her humble beginnings, customer service has always been Carol’s top priority and she hopes to continue this path as a Loan Officer at ALCOVA Mortgage.

Tips for a Smooth Mortgage Process

A reminder of the 3 out-of-pocket costs that you will incur during the purchase process (a refinance only requires the appraisal):

 1.  Earnest Money Deposit (EMD) – This is a good faith deposit that you will give to your agent to put down toward the purchase of your home at the point in which the contract is accepted. This is usually less than 1% of the purchase price and typically as low as $500 (negotiable). Our loan underwriter will require proof that this was withdrawn from your account (so you can get credit for it toward your required down payment at closing). Please be sure that you write a check from one of the same accounts that you provided to us on the application. After it clears, we will need to see a copy of the cleared earnest money deposit check along with a statement or bank-stamped activity printout showing the funds were paid through that account.

 2.  Home Inspection – This is a thorough visual inspection of the structure and components of a home to find items that are not performing correctly or items that are unsafe. This inspection is not required but recommended. We do not need a copy of this report. Should you choose to get one, the cost is normally $450 paid directly by you to the home inspector at the time of services rendered (typically by personal check).

3.  Appraisal – An expert opinion of a certified, state-licensed appraiser used to value a property. An appraisal is required by all mortgage lenders to determine that the sales price is in line with the home’s value. This cost is normally $550. We will order this report for you using the credit card authorization that is part of the loan document package. We will only do this once our underwriter gives us the green light to do so, and we typically like to wait to be sure that the home inspection (should you choose to get one) is cleared of concerns before ordering the appraisal (after all, you don’t want to pay to know the value of something that you don’t want to buy).

Please DO NOT do any of the following during the loan process:

  • Make any large deposits (including cash) into any of the accounts that you have listed on the application.
  • Transfer money between accounts (unnecessarily) as you will need to show the sources of the deposits made into these accounts.  It’s best to move money around as little as possible once you are pre-approved.
  • Allow your bank accounts to drop below the balance of what you need to close your loan.  Definitely want to avoid any “insufficient funds” or overdrafts appearing on any of the bank statements used for loan processing.
  • Establish any new credit lines/cards (including new furniture), finance anything new, co-sign for anything for anyone, or work on consolidation of existing debt.  Also please use existing credit accounts as sparingly as possible during the loan process. Please call us if you plan to make a large purchase on an existing credit account so we can ensure that it won’t jeopardize your loan status (debt-to-income concern)
  • Close any existing credit accounts. You can pay them down/off, but do NOT close them as it can have a negative effect on your credit scores
  • Change companies, change or quit jobs, accept a new position within the same company, or change pay structures (example, less base and more commission)​
  • Use cash as an earnest money deposit (EMD).  The EMD will need to come from one of the accounts that you have provided us a bank statement for (also will be listed on your loan application)

If there are funds due from you at closing, the title company/closing attorney will require a cashier’s (bank check) from the same account that you have verified through us on your application. Please do not use any unverified accounts or undisclosed gifts to pay for your cost to close.

If you encounter a special situation, or have any questions or concerns at all about anything, please give your Client Relations Coordinator a call at your earliest convenience so you can discuss it with them.  We want you to have a comfortable process, and communication is the key!

Better Business Bureau A+ Rating





Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (
Licensed in AL, AR, CO, DC, FL, GA, IN, KY, MD, NC, OH, OK, PA, 
SC, TN, TX, VA, WA, WV | 308 Market St SE, Roanoke, VA 24011


















Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (
Licensed in AL, AR, CO, DC, FL, GA, IN, KY, MD, NC, OH, OK, PA, SC, TN, TX, VA, WA, WV |
308 Market St SE, Roanoke, VA 24011