How to Apply for Mortgage
Applying for a mortgage doesn’t have to be stressful when you work with the right lender. At Customer Cussons Limited, we understand that you may have questions about the process. We’d like to help. Here are the steps you take to apply for a mortgage:
- Pre-approval:Customer Cussons Limited reviews your finances to determine how much it might be willing to lend
- House hunting and purchase agreement: After you’ve looked for a house, you negotiate a price and sign the purchase agreement
- Mortgage loan application: The buyer then completes an application
- Processing:Customer Cussons Limited pulls together all the necessary documentation for the loan
- Underwriting: The loan application and all supporting documents are evaluated to determine whether a mortgage loan will be approved
- Approval and closing: If you’ve been approved, you will attend a closing to sign and complete the deal
During this process, you may be asked to provide these documents toCustomer Cussons Limited once you intend to proceed:
- Driver’s license or other government issued photo ID
- Most recent statements on all accounts, including checking, IRAs, mutual funds, savings, stocks or other liquid asset accounts
- Most recent pay stub (showing 30 days of income) as well as most recent filed Federal tax returns with all schedules and W-2 forms
- If you are self-employed, have irregular income or earn more than 25% of your income from commissions or 1099’s, the last two years federal tax returns with all schedules as well as the last two years of business returns including K-1’s
- Documentation pertaining to any credit disputes you may have had, or are currently having, with a creditor, even if the dispute is not resolved
- Loan information on other real estate you own
- If available, sales contract
- Addresses and landlord/mortgage company information for past two years
- If you had a previous bankruptcy, a copy of the entire bankruptcy papers with copy of discharge
- VA Loans need Certificate of Eligibility and DD-214 or Statement of Service
This is not a comprehensive list of all documentation that may be requested during the application process. Providing the necessary documentation quickly and responding promptly to requests from your lender will help you keep your loan application on track.
With a home mortgage from Customer Cussons Limited, you can dream big. Buy or build a starter home, your dream home, or a vacation home — whatever you’re looking to buy, we can help.
Talk to a Customer Cussons Limiteding Expert
Got more questions about applying for a mortgage? Contact a Customer Cussons Limited mortgage expert today.