| Have you ever looked at your mortgage application | | | | immediately. Among the information required of you will |
| and suddenly felt your blood run cold? When you go | | | | be: |
| over the form, you see a maze of numbers and | | | | 1. Names you want to include in the title. |
| financial data. You see lots of boxes in all sizes waiting | | | | 2. Social security number |
| to be ticked, and you feel that you might be missing | | | | 3. Residence address and residence type and how |
| something in the process. Yes, you have just instantly | | | | long you have stayed there |
| become one of the many customers experiencing the | | | | 4. Checking or savings account |
| mortgage application anxiety. | | | | 5. Date of birth and marital status |
| The application process has changed over the years. | | | | 6. Total years in school |
| Before, you sit down with a loan officer and fill out the | | | | 7. Home phone number |
| application form by hand. Today, there are several | | | | 8. Name of employer, length of tenure and business |
| ways to accomplish the application - in person or face | | | | phone number |
| to face, over the phone and online. The face to face | | | | 9. Position or title at work |
| application is the old way of completing it. You may opt | | | | 10. Gross monthly income |
| to apply over the phone with a loan officer who can | | | | 11. Information about owned properties and loan |
| take down all the needed information and run it through | | | | balances |
| an automated underwriting computer. The online | | | | 12. Reserves, or asset amounts used for closing |
| application can do this simultaneously, although you | | | | There may be legitimate fees like the appraisal deposit |
| may get a little confused with all the information you | | | | that you need to pay upon application. Sometimes, |
| need to provide like mortgage rate quotes, credit | | | | there are brokers or companies who collect lock in or |
| status, income or salary and loan balances. The online | | | | application fees over the phone by your credit card, |
| application includes all the checklist of requirements and | | | | which can be a little suspicious, so be aware of this. It |
| your social security number to be used in reviewing | | | | is important to take note that even if you have |
| your credit history. In some cases, you can get an | | | | accomplished a phone or an online mortgage |
| automatic approval if there is an automated | | | | application, you will still need to sign the form for |
| underwriting feature set up with the application. | | | | processing and closing. In these cases, the will |
| To aid your anxiety over the documents and | | | | company usually mail you the application form to be |
| information that you need to prepare, you may go | | | | signed along with the rest of the other disclosures and |
| over the checklist below and get everything in order | | | | you just have to send it back to them. |