Feel confident that you have all necessary home loan requirements in place when you work with us on your next mortgage application.

If you are preparing to apply for a mortgage, you may be wondering what home loan requirements you will need to fulfill before the process can move forward into underwriting. While we can’t always predict all the home loan requirements your bank will request, with nearly two decades of experience in both banking and mortgage applications, we can help you through the process from start to finish.

Home Loan Requirements in Huntersville, North Carolina

Here are the most common home loan requirements you will need during your loan application process:

  • Tax returns: You will most definitely need your most recent tax return and perhaps even the last several years’ worth of returns.
  • Proof of income: Usually this takes the form of several months’ worth of pay stubs, showing checks issued or direct deposits made to your bank account. If you have other sources of income like interest income or child support, additional proper documentation may be needed.
  • Other assets: This includes other real estate property you own. Stocks and bonds may also be considered, as well as savings or certificates of deposit, retirement accounts, etc.
  • Job history information: Banks are generally looking for stability, so they are interested in not only your current employment situation, but your job history. Still, if you are a freelancer or have recently launched your own business, we can help you find mortgage options that work for you.

Once you gather the home loan requirements requested by the bank, all the information will be reviewed by one or more underwriters, who will decide whether or not to recommend that you are approved for the loan. They may request additional documents as well, depending on a number of factors, including how large of a loan you need. Contact us at Mortgages by Scott today to discuss your options. We are based in Davidson, North Carolina and are standing by to help you with your mortgage needs today.

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-Scott Hastings-

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