Once you find a home you love and the seller accepts your offer, it’s time to apply for your mortgage loan. (Unless you were pre-approved.) You’ll start by selecting a lender and completing an application. Depending on the lender, you may be able to apply in person, by phone or online. All lenders require you to provide information about yourself and anyone else, such as a spouse or partner, who will be listed as a co-borrower on the mortgage. To make applying easier, you'll want to gather the following details about your:
Home
- Purchase agreement for your new home
- Home address for the last two years
- Home telephone number
Employment
- Name, address and telephone number for your current employer(s)
- Name, address and telephone number for all employers in the last two years
- Most recent two years W2s and pay stubs documenting the most recent 30 days
- Social Security and/or other benefit award letters
Identifying Information
- Government-issued photo identification
- Name, address, telephone number and social security number
- Second piece of identification
Taxes
If you are self employed or a commissioned employee, state and federal tax returns for the last two years and your year-to-date profit/loss statement
Assets
- Account numbers and current balances for checking, savings and other deposit accounts
- Last three bank statements for those accounts
- Addresses, account numbers, current unpaid balances and monthly payment amounts for all debts
- Details about all of the real estate you own and any other existing mortgages
While additional information may be needed, this is certainly enough to get you off to a good start.
The views, information, or opinions expressed in this article are solely those of the author and do not necessarily represent the views of Citizens State Bank and its affiliates, and Citizens State Bank is not responsible for and does not verify the accuracy of any information contained in this article or items hyperlinked within. This is for informational purposes and is no way intended to provide legal advice.
