The first step to apply for a mortgage is to do a research of the loan application process. familiarize with budget, the type of desired property, and the type of mortgage loan that will work best for you.The main aspect you need is to review your credit history. Your credit score can be a definitive factor to obtaining financing. On the other hand, you should take note that almost 40% of credit reports contain erroneous information.

Which documents will I need to apply for a mortgage?

1. Pay stubs for the last 30 days.
2. Documented proof of any other income.
3. Monthly investment statements – 3 months.
4. Bank account statements for the last 3 months.
5. W-2 Forms covering the past two years.
6. Federal Tax Returns for the last two years.
7. Bankruptcy filings, if any.
8. Any estimate of proceeds from another home you are selling.
9. An optional statement explaining where the down payment for the home is coming from.