For people applying for their first home mortgages, the process may seem a bit daunting. You have probably heard from others that you are going to need information about your job and how much you make. In addition, you probably realize that the mortgage company is going to check your credit report to see how you pay your bills. While all of this may seem like a lot, it really does serve a purpose.
First, you will need to show the last two or three pay stubs from your job. This is required to show the mortgage company where you work. In addition, it shows how stable your salary is over time. You will also need two years worth of W-2 forms from your jobs. Again, this is to show the stability of your income over time. In some cases, the mortgage company may ask for your tax returns from the past two years rather than the W-2 forms.
This information, along with the type of home you're are buying and your overall credit history, is used to determine the type of loan and the interest rate that you will be offered. In order to get the best interest rates, you need to have excellent credit. In addition, you also need to work with directly with the lender, rather than a mortgage broker.
That is where Downs Financial comes in. We are a direct lender of mortgage loans. We are able to work with all types of credit situations. To get started, just fill out the online registration form. In 15 minutes, you will be contacted by an experienced loan officer. We believe that you should not have to wait to hear from us. We will get started right away to get you that important first home mortgage.