Profile picture for MattBartz

How do i go about asking for a loan for a property purchase?

  • September 10 2013 - Comstock Township
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Answers (3)

Profile picture for aracz
Hi Matt,

You can meet with a lender at a:
Credit Union
Local Bank
Mortgage Broker

All the best,

Arpad

  • September 11 2013
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I assume you are asking how to get a home loan so you can purchase a house. First off, you would need to speak with a lender to apply for a loan and prequalify. When applying for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan.

1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages)
2) Credit Report which they will pull
3) Employment History or Business Tax Returns if you're Self Employed
4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have.

These are just a few things you should have ready when you begin your buying process. If you have any other questions or need a loan please contact me through the information on my profile page.

I hope this helps and good luck!
  • September 11 2013
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Are you asking about how to obtain a mortgage? You will need to speak with a mortgage originator. He/she will pull a copy of your credit and ask for income and asset documents to see how much you can be pre-approved for. 
  • September 10 2013
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