What information specifically will the lender ask for when I apply for my loan?
Lenders' loan application questions vary, but, in general, they will include:
- The kind and amount of mortgage loan you wish to obtain.
- The verifiable source of your down payment money (bank account statement, gift, etc.)
- The length of time you wish to borrow the money for.
- Your current address and the length of time you've lived there and at your previous address.
- Your employment history, your current employment and income, and your employer's name and address.
- Your social security number
- Your assets, including your gross monthly income, your bank balance(s), your possessions (car, furnishings, jewelry, etc.)
- Your debts and account numbers (including car payments, credit cards, etc.)
- A copy of your sales contract.