the-mortgage-application

Phase 2: The Mortgage Application

 

You have found your home and now you are ready to apply for a mortgage.  Settlements, Ltd. can recommend a mortgage broker to you if you have not already selected one.  Some items you will need to have readily available when you make your mortgage application include the following:

  • Original signed copy of your sales agreement.
  • Your notice to lender form instructing your lender to utilize Settlements, Ltd. for your closing
  • Name, address and social security number for each buyer
  • Name, address and phone number of your current landlord or mortgage company
  • Gross monthly income
  • Name, address and phone number of your employer and dates of employment for previous two years
  • Any additional income sources, i.e., dividends, support, retirement income, interest income, rental income, etc.
  • Source of down payment and closing costs
  • Your most recent W-2
  • Copies of your checking account statements
  • Copies of your savings account statements
  • Value of assets, i.e., stocks, bonds, mutual funds, etc.
  • If self employed, net worth of business owned
  • Copy of credit card statements
  • Copy of installment loans
  • Copy of mortgage statement
  • Alimony, child support payments if applicable

 

Please consider this list as a guide only. You should consult your mortgage consultant for the specifics of what you will need for your particular loan application.