What Do I Need to Apply for a Home Loan?

For many, buying a home is high on the list of life goals. Unfortunately, buying a home is not as easy as picking up essentials at the grocery store. First, you have to find a suitable house that’s for sale, speak with a realtor, make an offer, and then you begin the loan application process. This article will briefly cover the materials needed to apply for a mortgage loan.


Financial information

Since buying a house is such a huge investment, you need to prove to your lenders that you’re financially stable. You should supply your prospective lender with all of your bank statements for the last 2-3 months, stock statements, and an explanation of any large deposits recently made to one of your accounts. While the information requested may seem a bit excessive, keep in mind that—especially in this economy—lenders need to make sure their clients will not default.

Tax documents

When you apply for a loan, it’s also important that you produce your tax information, so as to prove that you don’t owe any taxes, and that you have a steady, reliable income. You’ll need your W-2 forms for the last 2 years, most recent pay stubs, and your federal tax return for the last two years if you’re self-employed.

Credit information

A home loan is perhaps the biggest loan you’ll ever take out, so your mortgage lenders need to know how you’ve done on loans in the past. They’ll be able to access your credit report themselves, but if necessary, you should provide explanations for certain blemishes, like late payments and credit inquiries.

If you’re looking for a fair lender that’ll work closely with you to come up with an advantageous loan, contact us at Absolute Mortgage. We believe in teamwork, empowerment, positivity, and excellence—core values that’ll help you find a great home loan and begin a wonderful new life with your family. Give us a call today at (425) 822-7788 to get started.


The materials available at this website are for informational purposes only and not for the purpose of providing financial advice. You should contact a professional to obtain advice with respect to any particular financial issue or problem. Use and access to this website or any of the links contained within the site do not create any financing or lending relationships. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of any bank or lending institute, or individuals there in.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

2016-11-08T19:02:10+00:00 Categories: Mortgage|