Now that you have found the home you wish to buy, let's take the first steps to getting a mortgage loan.

Prior to submitting the offer on this home, you should have received a pre-qualifacation letter from the lenders and/or mortgage broker you are planning to use, and used it's information while completing your real estate purchase contract.

Once the real estate purchase contract is executed, your lender or mortgage broker will require a copy of the contract, along with numerous documents to start getting your mortgage loan ready.

Documents need to get a home loan

• Pay stubs for the past 2-3 months
• W-2 forms for the past 2 years
• Information on long-term debts
• Recent bank statements
• Tax returns for the past 2 years
• Proof of any other income
• Address and description of the property you wish to buy
• Sales contract

During the application process, the mortgage broker or lender will order a your credit report and a professional appraisal of the property you want to purchase.

The application process typically takes between 1-6 weeks.

Lets continue!