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Wednesday, July 23, 2014

Mortgage Application Tips #1 -The Basics

Are you planning on purchasing a home soon?  When applying for a loan or a mortgage, there is a lot of information that you will need to fill out the forms. You can't get the loan until you are approved and that can be a very intense process for some. We are here to make it more simple for you.

Here are the basics of what you need to know prior to starting the loan application process:

Be sure to gather all of your information together in one place so you have it easily accessible. This includes your personal finances, your bank account numbers and their balances, your current loan amounts and payments, and your credit card account numbers. Also bring your employment and financial history, and forms of identification such as your driver's license and your SSN card.

You will need all the information possible about the property that you are wanting to purchase as well. This includes a complete copy of the sales contract for the property, a set of plans if the house is to be built, the mailing address, age and legal description of the property, and contact info for your real estate agent who will assist in the appraising process.

You may be asked to bring more information than this, but these are the most important to get your application started.

More information is to come in our next blog post. Please check back again soon to learn more!  If you have an immediate question, feel free to call us at 877-828-8851.

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