Preparing to Apply
Option One Mortgage knows that getting ready to begin the
application process for a home mortgage loan can be confusing
and somewhat intimidating. That is why, whether you are a
customer of H & R Block Mortgage Corporation or of another
one of Option One Mortgage’s lending partners, the company
wants you to be comfortable and prepared for what is expected
as far as paperwork.
First, you will of course need to show documentation of your
identity. Acceptable types include driver’s license
/ state identification card or passport. You will also be
asked to provide proof of any source of income you are claiming,
including pay stubs, employment verification and / or a court
order for financial support.
The lender will also be interested in your financial situation
as regards debt. You should be ready to provide a summary
of what monthly payments you typically make and how much you
owe each creditor. This is important so that your loan officer
can make a realistic assessment of how much you can afford
It might also be a good idea to obtain a copy of your credit
report prior to beginning the application process. That way,
if there are errors, omissions or outdated entries, you can
have them corrected before they interfere with your approval.
You can also be prepared to explain any late payments or charge
offs that appear on the report.
Option One Mortgage wants consumers to know that applying
for a mortgage loan does not have to be a painful experience.
With a little preparation, it can be easier than you think
to move closer to your goal of homeownership.