How to Complete a Mortgage Application?

LAS VEGAS - July 8, 2016 - PRLog -- During the home-buying or refinance process the first step is to apply for a mortgage. You'll need to fill out a Uniform Residential Loan Application, which helps us determine whether you're eligible for a loan and how much amount you're eligible for.

This simple guide will help you with the types of information that you'll need to provide for a mortgage application:

1.       Type of Mortgage and Terms of Loan

There are various kinds of mortgages you can get: Conventional (15, 20, 30 years), FHA, VA, USDA etc. If you know what kind you want, list it. If not, that's ok too. We'll review your application and tell which loan programs you are qualified for.

2.       Property Information and Purpose

List the property address you wish to purchase or refinance. Thenchoose the loan purpose -purchase, refinance construction etc.

3.       Personal Information

This includes your name, present address, contact details, DOB, etc.

4.       Employment Details

It includes the name, address and contact details of your employer, your position and job title with the employer, length of employment, type of business etc. We'll need all your employers covering the last two years.

5.       Monthly Income and Expenses

This includes your gross income and all housing related expenses.

6.       Assets and Liabilities

Assets include bank accounts, investments, cars, real estate etc. Liabilities include any debts like credit card balances, alimony, child support, installment loans etc.

7.       Declarations

Answer Yes/No to questions pertaining to bankruptcy within the past 7 years, outstanding judgments, foreclosure of a loan, party to any lawsuits etc.

For quick processing, you can also fill out our short from application at http://www.awmlending.com/shortapp.php If you have any questions, please contact us at 702-850-2790.