The Application Process

What information will I need to provide to a lender when I apply for a mortgage?

There are six general kinds of information a lender will want to know:

1.Personal Data
The names, addresses, dates of birth and Social Security numbers of all borrowers.

2.Income
The type (e.g. annual salary or hourly wage), amount, and source(s) of income for all borrowers.

3. Assets
The current balances of any asset accounts you may have, such as checking or savings accounts or retirement plans, and the value of any other real estate owned.

4. Debts and Obligations
Information concerning any outstanding debts and financial obligations you may have.

5. Credit References
Most of this information will be derived from your credit report, which the lender will order as part of the application process.

6. Property Information
The address and type of property you will be purchasing, if you have chosen one.