So you want to apply for a mortgage loan? Here’s what you need to do to get started.
- Review your credit. Take a look at your current credit situation and start taking steps to put your credit in the best condition possible. You can do this yourself by contacting a credit-reporting agency to get a copy of your credit report—or Legends Mortgage Services can help with this.
- Review your budget. Sit down with your monthly budget and determine how much you can realistically afford. For your convenience, we have a mortgage calculator on our website that can help you determine what your monthly payment would be based on the loan amount.
- Get pre-qualified. Once you’ve reviewed your credit and determined your budget, you can pre-qualify for a loan. Call one of our Legends Mortgage Services professionals to get started.
The application information you will need is:
- Name and Social Security numbers for all applicants
- Complete addresses for the last two years (if you have been renting, include the names and addresses of your landlords)
- Sources of income and the names and addresses of your employers for the last two years
- W-2 forms or other proof of income for the last two years
- If you choose to include income from alimony or child support payments, bring copies of court records or cancelled checks to show that payments have been received.
- Two most recent paystubs reflecting 30-day and year-to-date earnings
- A list of all your deposit and investment accounts (checking, savings, stocks, bonds, etc.), including names, addresses, account numbers, and current balances
- Statements from the most recent three months on each deposit account
- A list of all your installment loans, revolving charge accounts, student loans, mortgage loans, and auto loans (include names, addresses, account numbers, monthly payments, and current balances)
- A typewritten or clearly legible sales contract signed by the buyer(s) and seller(s)
- If you are self-employed, please include copies of your last two years’ income tax returns with all schedules. Also bring a profit-and-loss statement for the current year.
Talk to a Mortgage Originator