Mortgage Application Process

October 21, 2009 by  
Filed under Blog, Mortgage Application Process

Are you looking to sign up for a new mortgage or refinance the one that you currently have, well here are some useful tips for you.   The mortgage application process can be tedious and cumbersome, it is important to go at it as if you were going to war.  There are many things that can hold you back from closing on the loan.  For instance, if you don’t end up closing in a timely fashion, you lose that great interest rate you were hoping to get.  Here are a list of things that will help you get the process moving along:

  • Be able to show record of your income
  • Have proof of pay stubs and tax returns
  • If you are self employed your bank accounts for the past 2 years will be sufficient
  • You need to supply proof of any supplemental income you are receiving such as social security benefits, child support, veteran’s benefits, etc…
  • You need to make a file for all investments that you have, everything should be transparent
  • You need to make sure that your credit reports from 3 different credible institutions check out. If by chance they do not you need to address the issue.
  • It is important that you make sure your credit check out…This will make the process much easier for you.

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