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Buying a
Home - What steps need to be taken to secure a loan?
The
first step in securing a loan when buying a home is to complete a mortgage
loan application. To do so,
you'll need the following information.
- Pay
stubs for the past 2-3 months
- W-2
forms for the past 2 years
- Information
on long-term debts
- Recent
bank statements
- Tax
returns for the past 2 years
- Proof
of any other income
- Address
and description of the property you wish to buy
- Sales
contract
During the application process, the mortgage
lender will order a report on your credit history and a professional
appraisal of the property you want to purchase.
The application process
typically takes between 1-6 weeks.
>> Next
learn how do I choose a loan
program when buying a home?
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