What’s Needed for this Process

Getting ready to apply for a mortgage, whether for a new home or refinancing, can feel overwhelming. However, being prepared with the necessary documents and information will make the process much smoother and faster. At Forward Bank, we offer a convenient online mortgage application process, allowing you to apply from the comfort of your home. Our mortgage lenders are also here to guide you through each step, ensuring that you have everything you need to complete your application or mortgage prequalification with confidence.

Required information for your mortgage application or prequalification letter:

Personal information: To start, you will need to provide your personal information, including your full legal name, Social Security number, and date of birth, along with a government-issued photo ID, such as a driver’s license or passport. You will also need to provide your current address, as well as any previous addresses from the last two years if applicable.

Employment and income verification: Next, you will need to verify your employment and income This typically includes the following documents.

• Pay stubs from the past 30 days
• W-2 forms from the last two years
• Tax returns (if self-employed, usually the last two years of returns are required)
• Proof of additional income (such as bonuses, rental income, or alimony)

Asset Documentation: Your mortgage lender will also need asset documentation, such as your recent bank statements for checking, savings, and investment accounts from the past two to three months. If you have other assets, such as retirement accounts or stocks, you will need to provide documentation for those as well.

Debt and Liability Information: For debts and liabilities, you will need to provide a list of all outstanding loans, including credit cards, student loans, car loans, and any other debts. You should also include your monthly payments for each loan, and if you have child support or alimony obligations, these must also be disclosed.

Property Information: If you’re purchasing a new home, you’ll need the purchase agreement for the property. If you’re refinancing, you will need to provide your current mortgage statement, property tax statements, and homeowners insurance information.

Additional Documents: Additionally, if there are any large deposits in your bank accounts, you may be asked to provide an explanation. If family or friends are helping with your down payment, a gift letter will be required.

Moving Homeowners Forward

Once you’ve gathered the necessary information, you’re ready to begin your mortgage application. Whether you’re buying a new home or refinancing your current mortgage, being organized will help ensure the process goes smoothly. At Forward Bank, we understand that no two homebuyers are the same, so we’re here to assist you every step of the way. Our team of mortgage experts is available to answer any questions, clarify the required documentation, and guide you through the home loan process.

Start your mortgage journey today with Forward Bank’s online mortgage application, and let us help you achieve your home financing goals with ease and confidence!