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CONFUSION ABOUT APPLYING FOR A HOME LOAN?  GM MORTGAGE CAN HELP

CREATE A LIST OF QUESTIONS REGARDING YOUR LOAN PROGRAM.

Make sure to have a list of questions if you do not totally grasp the advantages and disadvantages of all the various loan programs. One of my lender contacts or I can assist you in understanding the advantages and disadvantages of each one, because it can be hard to know the characteristics of both fixed and adjustable rate mortgages.

DETERMINE WHEN YOU WANT T LOCK IN YOUR MORTGAGE RATE.

When you lock in a rate, it means that a mortgage lender guarantees the mortgage interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the loan application day and closing.

Those who decide to float conclude that the interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.

GATHER YOUR PAPERWORK.

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together.

Click on the button below to review the Loan Application Checklist.

LOOKING TO GET PRE-APPROVED FOR A HOME LOAN?

Getting pre-approved is the first legitimate step towards purchasing your new home. To get pre-approved, we verify your information and documents to determine how much you are able to borrow towards your new home. This will strengthen any offer you make for a home.

What Paperwork Will Be Need?                 

To apply for a new mortgage, you will be asked to provide documentation that will be needed for the mortgage loan process.  A copy of your credit report from a credit agency will be requested in order to verify the information provided in your loan application.

Be prepared to provide the following:

  • Social Security Numbers for all borrowers
  • Copies of Checking and Savings accounts statements for the past 2 months
  • Evidence of other Assets such as Stocks, Bonds or 401K
  • Recent Paycheck Stubs
  • W-2 Forms or Income Tax Returns for the past 2 years
  • Name and Address of your Employer
  • Residence History for the past 2 years
  • Sales Contract for the purchase of a new home
  • Homeowners Association information (if applicable)

LOOKING TO APPLY FOR A HOME LOAN?

Using GM’S online loan application, you can take your time and complete your application whenever it’s convenient for you. Feel free to save your work and come back and complete the form later if needed.

Click on the button below to complete your loan application to calculate your monthly mortgage payments quickly and easily. Enter your home location and the desired home price in the fields as well. In seconds, you will have an estimate of your monthly house payment.

Need assistance in applying for a loan?

Getting your loan locked down is just one part of a home purchase. GM Mortgage & Realty is experienced at helping both new and experienced buyers alike in all areas of real estate.  Click on button below to contact a GM Mortgage Loan Officer to assist you in applying for a home loan.

RESOURCES ON FINANCING A HOME

For more information on topics of Financing a Home, click on a button below: