Applying for a home loan or mortgageWhether meeting face-to-face or talking on the phone during the initial step with a mortgage professional, they should fully explain and walk you through the application process. It is a simple interview, and most of the information you’ll need can be taken straight from your credit report. The amount you’ll actually need to provide on your own isn’t overwhelming.

There are generally six areas that will be covered:

  • Personal Data: Full names, addresses, and Social Security numbers of all borrowers.
  • Income: The amount and sources of income for all borrowers.
  • Assets: Information on all assets you’ll be using to qualify for the loan. This includes things like checking and savings accounts, stocks and bonds, retirement plans, and other real estate owned.
  • Debt & Obligations: Information on all outstanding debt and other financial obligations.
  • Credit References: Information concerning loans or debt that have been paid, plus any other references to good credit use.
  • Property Information: Specifics on the property you wish to buy, if you’ve chosen one.

One thought on “Information You’ll Need To Provide — Part 1 of Applying For Your Loan

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