Even with the amazing updates in technology, there is still a large amount of information and paperwork involved with applying for and obtaining a mortgage to purchase your home.
This process may seem confusing and at times intimidating, especially if you are a first time home buyer and aren’t sure what to expect.
I have been working in the mortgage industry for almost 30 years, so I am well aware of all the aspects involved throughout the different stages of the mortgage process, from pre-approval to closing.
I believe it is my job as a trusted mortgage professional, to make sure my clients are educated on the entire process so they feel comfortable making the important financial decisions they will be faced with.
There are a few things, like your credit score, how much you can afford, and what type of mortgage you want, that you should consider before even beginning the process. If you aren’t sure where to start, I am always happy to help answer any questions you may have or guide you in the right direction as you move through the process.
While you are preparing yourself for the important steps to come, it is also essential that you prepare your documentation so you are ready to go when it comes time to submit your mortgage application. The same application process affects both your pre-approval and your official mortgage application, so the following information will need to be ready even as you begin the mortgage process:
- Personal Identification
- Driver’s License
- Personal Information – Phone Number, email address
- Previous Residences
- Employment and Income Verification and History for two years
- Company Information, Pay Stubs, etc.
- Current Assets
- Bank Account Statements, Investment Account Statements, etc.
- Current Debts
- Credit Card Balances, Recent mortgage statement, etc.
- Written Permission to Run Your Credit
This list is not meant to be all-inclusive as your required documentation will vary based on your financial situation. It is my hope that the information above does help by giving you some insight into what will be required from you during the mortgage process.
If you have any questions about the mortgage checklist above or would like to get your mortgage process started, give me a call at (408) 313-6162 today!
I can’t wait to help you purchase your dream home with the perfect mortgage!