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Applying for a mortgage is a big and exciting step toward getting a new home, but are you ready? There are specific things you need for the application. Take a look at this handy three-point checklist to get you on your way.
You’ll need to have proof of income to qualify for a mortgage loan. Verification can include the following:
Your assets will help your lender determine if you are financially sound enough for a mortgage loan. Asset verification can include statements from:
In addition to proof of your income and assets, your mortgage lender will ask for approval to run your credit report. They may also ask for documentation related to rent payments, divorce, bankruptcy, and foreclosures if any of those apply to you.
The more prepared you are when applying for a mortgage, the smoother the process. When you’re ready to get the ball rolling, the loan experts at Midland Mortgage Corporation can help you every step of the way. Contact them today for help finding the perfect loan.