The following tips will help ensure that you receive a timely decision on your loan. Keep in mind, the better prepared you are with required documentation and the sooner you're able to provide that to your loan officer, the less likely you are to encounter delays in your loan approval.
Tips When Applying for a Mortgage in Oregon
- Be sure to provide all requested documentation! To get your loan approved, you will typically need the following:
- Bank statements covering the most recent two months
- 401K statement showing vested amount
- Purchase contract or sales agreement
- Pay stubs covering most recent thirty days
- W-2 and 1099 statements covering the past two years
- Most recent 2 years complete tax returns
- Fully executed divorce decree (if applicable)
- Mortgage statement and hazard insurance policy (if you're refinancing)
- Landlord contact information (if applicable) and 12 months cancelled rent checks (if renting from a private landlord)
- If you're self-employed, own rental real estate, or get paid by commission, or you will need to produce:
- If self-employed through a corporation, the last two years worth of corporate returns as well as a year-to-date profit and loss statement and balance sheet
- Two years signed personal federal income tax returns, including all schedules
- If any additional documentation is requested, please provide it as soon as possible.
- Please read all of your disclosures carefully and ask questions if you need clarifications. It's best to communicate all requests and clarifications in writing early in the loan process.
- Ensure that the income you report on your application is the same income as that which is reported on your tax documents.
- If you've had past credit problems, please let your loan officer know
- Be sure to carefully review your credit report for any errors
- When you sign your closing documents, be sure to sign your name exactly as it's printed. You may, for example, need to include your middle name or initial in your signature.
Interested in how much you can qualify for? Curious who offers the best rates? We can answer any questions you have about a Missoula mortgage and help you find the loan program that best meets your needs.
If you're interested in refinancing your mortgage or purchasing a home, Mann Mortgage can help you make it happen. Please call us today or apply online in less than 10 minutes using SimpleApp, our secure online application. We look forward to answering your questions and helping you make your dream of homeownership a reality!