Begin Loan Process
In the application phase, a loan officer will work with you directly to gather all information needed to put your loan in motion. The lender will need to understand your plans for the future to submit a complete loan application. To establish employment history and financial capabilities, a mortgage lender will request the documents including but not limited to:
- Pay Stubs for 2-3 months
- W-2 Forms for the past year
- Most recent 3 months bank statements
- All credit account and debit information
Once all the necessary documentation is submitted, your lender will send you a loan proposal. After the proposal is accepted, you will move into the underwriting stage.