Loan Process

You are ready to choose a lender and make a loan application once your offer to purchase has been accepted by the seller and there is a fully executed contract.

Information Lender Will Check

Credit History - an up-to-date record kept by a credit bureau showing to whom you have owed money in the past, how much you have owed, and whether you repaid the money on time. Your credit record may also show how much money you owe NOW, as your job history and your income. A lender may turn you down for a mortgage loan if you have a "poor" credit history or too many debts.
Employment records, your income, and your other assets (such as a car, savings account, stocks, etc.).
Current debts (such as installment payments on your car or furniture) to help them decide whether you can make the mortgage payments.
The house (this is to see whether it is worth the price you are paying for it. That is what the appraisal fee is for when you make loan application.)
Any outstanding judgments against you. Have you ever declared bankruptcy?
Whether you have had a property foreclosure or given title or deed in lieu of foreclosure.
Whether either party is a co-maker or endorser on the note.
Whether either party is involved in or a party to a lawsuit.
Whether any part of the down payment is, or will be, borrowed.

Toll Free: +1 800 528 9449
Telephone: +1 813 684 0036