What information do you need when applying for a mortgage? So you have found the home of your dreams and you made an offer. After a little negotiation your offer has been accepted. Congrats! But now what? Most contracts that are dependent on financing have a timeframe in which a formal loan application must be made, typically five to seven days. Here's a simple check list of the items needed. Here is a simple check list:
* Copy of sales contract.
* Personal information including: Social Security number, date of birth, number of years in school, marital status, number and age of dependents, current address and telephone, current housing expenses (rent or mortgage, insurance, taxes), name and address of landlord or mortgage holder for past 2 years, copy of valid photo I.D.
* 2 years of employment history and income.
* Record of assets including retirement funds, vehicles you own or real estate you own.
* Liabilities and debts.
* Credit report and appraisals. Fees may be associated with this requested information.