APPLYING FOR A LOAN
Mortgage applications don’t have to be stressful. Here are a few tips to get you started.
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The application process
These 4 steps will help keep you on track
1. File an application
Consider filing your application about 3 months before you want to move into your new home. This will allow you to get financing in order and may help prevent delays at closing.
2. Get an estimate
The lender will send you a Loan Estimate, which includes info about the terms of the loan such as the interest rate, monthly payment and added fees.
3. Review the estimate
Be sure you understand and agree with everything in the Loan Estimate. Consult your real estate agent or Home Lending Advisor if you need help.
4. Show you’re ready
If you’re happy with the Loan Estimate, notify your Home Lending Advisor that you would like to proceed with the application.
Overview of the application process
The documents you’ll need
- Your most recent one month’s pay stub(s)
- W-2 forms showing the last 2 years of your employment
- Bank and investment statements from the last 3 months
- Your home purchase contract signed by you and the seller
Download our mortgage application document checklist below to make sure you aren’t missing any important information.
