mortgage loan new home buyer: Do you qualify for a loan?
- 03/27/08 03:34 AM
Like most people, you will probably wait until submitting a purchase contract on a home before applying for a mortgage. By then, not only will you know the specific property you want, but also how much you need to borrow. At that point, the lender will require that you fill out a loan application and reveal specific information about your current and past financial situations. The following checklist is a good place to start for gathering the information you will need: Original purchase contract (the loan officer will make a copy and return the original to you) Copy of earnest money (deposit) cancelled … (1 comments)
Like most people, you will probably wait until submitting a purchase contract on a home before applying for a mortgage. By then, not only will you know the specific property you want, but also how much you need to borrow. At that point, the lender will require that you fill out a loan application and reveal specific information about your current and past financial situations.
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