Applying for a Mortgage

Once you found a home, made an offer and had the home inspected, it's time to formalize the loan process and apply for a mortgage.

By now you should have already received a Good Faith estimate, and know how much this loan is going to cost you. Your lender will now require additional information from you; pay check stubs, tax returns; and several other personal information. Hey, it's not like you are buying a new shirt, you are buying a Home!

Apllying for a mortgage takes alot of paperwork. With most lenders you will have to complete a form 1003 (this might be outdated).

Don't be surprised if the lender requires income and employment verifiaction. If this is your first home, they might even required an rental history verifcation.

The Lenders do this to protect their investment.

This loan process might take a few weeks, but until the lender is ready to fund your purchase not much else is happening, until days before closing.

Inspecting the home
(previous)		 Days before closing
(next)
Home Search MLS

 

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