The first step in securing a loan is to complete a loan application. To do so, you’ll need the following information.
- Pay stubs for the past 2‐3 months
- W‐2 forms for the past 2 years
- Information on long‐term debts
- Recent bank statements
- tax returns for the past 2 years
- Proof of any other income
- Address and description of the property you wish to buy
- Sales contract
During the application process, the lender will order a report on your credit history and a professional appraisal of the property you want to purchase. The application process typically takes between 1‐6 weeks.
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