Mortgage Application Questions
There is nothing new to expect when applying for your next mortgage. Know that all applications ask the same questions, so you will not feel as if you are being pushed into a corner. Whether you are applying for a mortgage online or in person; or using electronic forms or paper – all the questions are the same. The following are asked by the lender:
The lender will ask for your street address, Social Security and phone number, and email address. If you are living at an address under three years, be prepared, because the lender will ask you for the address of the house you had lived at before. The lender will want to know what relationship you have to your co-borrowers if: you and another person are buying the house together. Others are:
• Are you living with family, own, or rent at the moment?
• What is the amount of your dependants?
• Income per annum?
• What is your occupation and how long have you being employed for? (If you have been with a specific company for under two years…) Where have you worked before?
• Liabilities – if you have any?
• Are you in arrears with your bills?
• Are you buying for the first time?