You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a 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.
– A sales contract on the home you want to buy.
During the application process, the 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.