Skip to content


Send In Your Mortgage Application Vigilantly


A mortgage application makes the case to the bank or lender that you are a good credit risk, and that you will repay the home loan as agreed. A few of the factors the bank will want to take into account include how much money you make, how much you have in hand in case of an interruption in income, and how you have paid back other debts previously. Most of this information comes from your credit report, but a good portion of it will be shown by the documents included in your Orlando mortgage application.

Here is a list of the items you'll probably be asked for:

* Income Documents - Your most current paycheck and W-2s from the past two years. In some cases you might be asked for copies of your tax returns, particularly if you are self employed or receive a big percentage of your compensation as commission or a bonus. If you receive income from another source like social security, a pension, alimony, or child support you'll be asked to document that too.

* Asset Documentation - Your two most recent statements for checking, savings, and investment accounts. This may consist of retirement accounts like an IRA, Roth IRA, or a 401k. Be sure to include all the pages of each statement, even those which read "this page intentionally left blank." That is the best way for those going over your application form to determine that there isn't any pertinent information on those pages. If you own any additional real estate you will also be asked for details of those properties.

* Identification - Your driver's license, social security card, and proof of immigration status (if applicable.)

* Loan Information - A copy of the purchase contract and earnest money deposit in the case of an investment. For a loan refinancing the approximate loan amount to be paid off.

* Depending on your specific scenario you might be asked for additional documents, such as a divorce decree, separation papers, a gift letter if utilizing gift funds to cover all or part of an advance payment, a business license if independently employed, or an offer letter if starting a new job.

Always provide copies rather than original copies of all required documents when filling in your mortgage application. This will save you the trouble of having to wait for the original papers to be given back to you, and you can actually provide another copy in case something is inadvertently misplaced.

Commercial Mortgages Can Be Obtained Through The Banks, Commercial Mortgage Companies Or Private Lenders
Hard money commercial mortgages are also available through private lenders who have more flexible lending criteria. Also known as hard money lenders, private commercial mortgage companies focus more the current value (today's selling price) of commercial property than on your personal financial package.

Using A Mortgage Calculator Just Before You Start Searching For A Property Right For You
Have you ever use a calculator when you've been looking for various mortgages? If you never used one of these before, then you'll be quite surprised.

Find Ideal Home Loans By Employing A Mortgage Broker
When you have a good mortgage broker, you will usually have a pretty stress-free loan process and they will be able to explain it all to you simply and easily.

Mortgage Broking - A Brief Discussion
Mortgage broking is the act done by mortgage brokers. Basically, it is the act of meddling, I mean, acting as an intermediary in between mortgage loans in behalf of individuals, families, businesses and others who opt for mortgage loans.

Know What Actually Interest Only Mortgages Is
Interest Only Mortgages probably the least known mortgage types all around the world and this can be attributed to a lot of factors.

What Is The Right Kinda Mortgage For You
Mortgages are often miss-old by sellers claiming to be experts. One day they all push Endowment mortgages, then Repayment mortgages or Low Start mortgages or Overpayment mortgages or Fixed Rate mortgages or Offset mortgages - and each type will also have different interest rates available.

Self Certification Mortgages Are Being Utilised By Increasing Amounts Of Building Societies For Home Buyers
There are more and more people who are having to get self cert mortgages as a means of purchasing their own homes. This type of home loan is a vital part of the UK mortgages market.

Related Articles