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A Beginner's Guide to Filling Out a Mortgage Loan Application

A Beginner's Guide to Filling Out a Mortgage Loan Application

Is this your first time applying for a mortgage? If so, you may feel a little overwhelmed by the paperwork and forms you need to fill out. To make the process easier and less stressful, here are four things you should do to make things go more smoothly:

  1. Make sure you sign the application and provide required information. If you have a spouse, indicate if you’re using his or her information to qualify for a loan. And, if you have a co-borrower, that person should also sign the application. You’ll need to provide personal info such as your Social Security number, marital status and date of birth.
  2. Choose the type and amount of the loan. If you’re not sure how much of a loan you need, leave this blank and a lending expert at Midland Mortgage Corporation can work with you to help you figure out the amount.
  3. Include two years of work history and salary along with up-to-date contact information for employers. This is important because your lender will need to check and verify your employment status. Remember to enter income from your current job and include commissions, bonuses and other wages.
  4. Provide information about how much you own (assets) and owe (liabilities). Assets include bank accounts, investments, savings and cars. Your liabilities are loans, credit cards and other types of debt. This helps your lender decide how big of a loan you can afford.

Not sure about something?

If you have questions or are unsure about something, ask your lender to help you fill it out. The experienced professionals at Midland Mortgage Corporation are ready to help you through the entire loan process from start to finish. To get started, contact us today!

Posted Apr 05, 2017 by Midland Mortgage Corporation