When applying for a mortgage you will be asked to provide certain information to the loan officer in order to qualify you for your home. Here’s a good starting point for what you will need when you apply for a residential mortgage.
In addition to the items on this checklist, there are a few things that you should avoid once you’ve begun the home-buying process. In the mortgage lending world, these are referred to as the 10 Commandments when applying for a mortgage:
When you start the process of buying a home, you will need to keep in mind that any changes to your credit or large purchases may prevent you from closing on your home. You do not want to miss your dream home because of something that could have been avoided. Keep this in mind, and if you find yourself unsure of the impact a purchase might have on your approval, give us a call and we’ll be happy to discuss.
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