What Documents Do You Need When Applying For a Mortgage?
It Pays to Be Fully Prepared for a Mortgage
While it has gotten "easier" for home buyers to apply for a mortgage during the past couple years, don't be mislead - it's still an arduous process, as many of our Seattle area clients will tell you. Thus, it truly pays to be to be fully prepared before seriously looking for a home, as knowing what's ahead can save a home buyer thousands of dollars long-term.
All mortgage applicants, regardless of income or financial status, should expect to provide lenders with plenty of documentation prior to approving the mortgage application and funding the loan. Between July - September 2012, fewer than 6% of banks tightened mortgage guidelines, and roughly 10% of banks actually loosened them. But, don't be fooled... applying...