Dan Hubrich of Mountain View Mortgage is back this month to explain the basics of the mortgage loan application. Take a look! 

The mortgage application process can seem overwhelming, but we are here to help you every step of the way. Below, we will outline the basics of the mortgage application process, including online vs phone applications, pulling credit, and income verification. 

Online vs Phone Applications

You have the option to apply for a mortgage either online over the phone, or in person. Online applications are convenient and can be completed from the comfort of your own home. Phone and in-person applications allow you to speak with a loan officer in real time and receive personal assistance throughout the process. Both options are available to you, and we recommend choosing the one that best fits your needs. 

Pulling Credit

Your credit history will play a significant role in the mortgage application process. We will need to pull your credit report to determine your credit score and to see if there are any issues that may affect your ability to obtain a mortgage. It is important to keep in mind that multiple credit pulls can have a negative impact on your credit score, so it is best to limit the number of inquiries.

Income Verification

We will also need to verify your income to ensure that you have the ability to make your mortgage payments. This may involve providing pay stubs, W-2 forms, and tax returns. In some cases, we need to contact your employer to fill out a verification of employment (VOE) form. If you are self-employed, additional documentation may be required.

In conclusion, the mortgage application process can seem complicated, but we are here to help you every step of the way. If you have any questions or concerns, please don't hesitate to reach out to us. We look forward to assisting you in obtaining your dream home.