If you’re thinking about purchasing a home in California, you’ll likely need to apply for a mortgage down the line. In order to obtain mortgage approval, you’ll need to provide a full set of documentation that verifies your financial and personal life. At American Dream Realty in Woodland Hills, our real estate agents understand how complex the mortgage process can be, which is why we’re proud to offer a full gamut of real estate and financing services to all of our clients. If you need assistance buying or selling a home in Simi Valley, Thousand Oaks, or Studio City, contact our professional realtors today!

Loan Application Information For A Mortgage

Before you start shopping for the home of your dreams, you’ll need to apply for a mortgage by completing a federally required mortgage application. Some of the information you will need to provide in this documentation may include:

  • Your full name, birth date, Social Security number, and phone number.
  • Your current marital status and the number of children you have in addition to their ages.
  • Your residence history for the past two years. If you currently rent a home or apartment, your rent payment information will be needed. If you own your own home, all of your mortgage, insurance, and tax information will be needed for your property.
  • Your employment history for the past two years. This will include your company’s name, address, phone number, and titles.
  • Your income history for the past two years. If you happen to receive commissions or bonuses or you are self-employed, you must provide all of the income that you have received.
  • All of your asset account balance for your credit cards, mortgages, car loans, student loans, alimony, child support, and any other fixed debt obligations you may have.
  • Confirmation of any bankruptcies or foreclosures that you have experienced within the past seven years.

Loan Documentation For A Mortgage

Once you have filled out all of the required loan application information, your lender will give you a checklist of loan documentation that they will need from you. Some of this documentation may include the following:

  • Written or verbal confirmation that your lender can run a credit report.
  • Letters of explanation for credit inquiries, past addresses, and derogatory information found on your credit report.
  • If you’ve experienced bankruptcy in the past seven years, discharge papers will be required.
  • Pay stubs for at least 30 days from your place of employment.
  • W2 forms for all of the jobs that you have worked within the past two years.
  • The most recent two-month statement for all of your checking, savings, investment, and retirement accounts.

The detailed list above is only a partial list of what you may need to apply for a mortgage. If you’re looking to purchase a home or condominium in the Simi Valley or Thousand Oaks area, contact the professionals at American Dream Realty today! We’ve helped hundreds of people find the California home of their dreams and we would love to do the same for you.