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National City Mortgage
Overview
Benefits of National City Mortgage
What is a Mortgage?
Fixed Rate Mortgages
Adjustable Rate Mortgages
Affordable Housing Programs
Additional Mortgage Options
New Home Construction Programs
The Benefits of Home Equity
Why Refinance With National City
Payment Options
Assistance to Keep Your Home
Assistance Option When Giving Up Your Home
National City Mortgage Insurance Options
Mortgage Life Insurance
Mortgage Pre-Approval
What You Need to Buy a Home
Application Process
Frequently Asked Questions
Glossary


What You Need For The Application Process

How many times have you asked yourself, “Why didn’t someone tell me that?” With big purchases there are always so many things that can go wrong or be forgotten that it is helpful to have all of the information you need up front, so you can be ready for whatever comes your way. It is no different with applying for a mortgage. The application process is long, but if you are prepared, it should go by smoothly and easily.

Here are some of the things you may need when applying for a home loan, whether it is in-person, online or via telephone so you will never again have to ask, “Why didn’t someone tell me that?”

First, you will need verification of your income and employment. This can be proven through paycheck receipts and W-2 forms going back a couple of years. If you are divorced with or without children you will need to provide all information relating to the income you receive from that, dating back one year or however long you have been receiving payment. Applicants who work for themselves need to show tax documentation when applying.

If you are disabled, you will need to provide your social security and income from disability information. Also, note that if you own property for which you receive income, such as a rental home, you must provide documentation of the income you receive for that. Any form of income aside from the traditional salaried income must be accompanied by tax returns for documentation when applying for a home mortgage.

A copy of all financial records must be made available from accounts you have through your bank, as well as any investments. Keeping a current balance record of your finances, both income and expenditures is advised to provide the most complete record for your application.

If you would like to verify the necessary documentation needed when applying for a mortgage through National City Mortgage, contact a mortgage representative today.

 

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