Applying for a Loan
Apply for PreApproval
Most lenders will require certain personal information in order to process your loan application. Here is a list of some of the information that you should have ready at your fingertips in order to make the mortgage application process as easy as possible.
- Social Security Number (SSN)
- Gross income
- Personal Asset List (banking, investment, real estate, annuities ...)
- Itemized current expenses ( rent, credit card payments, loan payments, child support, taxes ...)
- Current address (Previous address if residing less than 2 yrs)
- Current Employer's name & address (Previous employer if employed less than 2 yrs)
- Purchase price range (new home purchase)
- Approximate property value (refinance)
- Amount of Loan (refinance)
- Approximate down payment (new home purchase)
Loan Documents
Most lenders will require proof of stated income, paycheck stubs, tax returns, and bank statements to process your loan. In addition to your loan application and supporting documents, lenders will use your credit history, as supplied by credit reporting bureaus, in order to determine your loan decision. Multiple risk factors are employed in different lending models, so while it is possible to be denied a loan by one lender and approved by another, in general the formulas arrive at similar outcomes.
