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More Information on
Option One Mortgage
The Background of Option One
A Culture of Servicey
The Management Team
Financial Literacy
Who Should Take Out a Mortgage?
The Monthly Payment
What is a Second Mortgage?
Take Out a Second Mortgage?
Home Equity Line of Credit
Preparing to Apply
The Down Payment
Fixed vs. Variable Rates
Interest Rates
Online / Payment Options
Identity Theft
Private Mortgage Insurance
Option One Mortgage and Habitat for Humanity
Option One Mortgage and Junior Achievement
Volunteer Center Orange County

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 to borrow.

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 That way, if there are errors, omissions or outdated entries, you can have them corrected before they interfere with your approval.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.

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