How Do You I Apply For A Home Loan?

How do you I apply for a home loan? Learn how a consumer can apply for a home loan. If you are thinking of buying your first home, you may have some questions about the process of applying for a loan. The...

If you are thinking of buying your first home, you may have some questions about the process of applying for a loan. The first step is to complete an application for a loan. You can apply in person, over the phone, or online. You should choose a lender you trust, and it is a good idea to research facts about available lenders before applying.

"The consumer who is going to apply for a home loan can apply through a variety of means," says Doug Perry, who has worked in the Consumer Markets Division for Countrywide Loans for 16 years. "Typically what we find is that the consumer is utilizing more than one opportunity or channel to apply. Some consumers like working face-to-face, and they can apply via one of our local branches that Countrywide has throughout the country.

"Another means is to apply over the telephone," Perry continues. "They can call 1-800-570-9888 and get one of the call centers that are open seven days a week. The call centers are open a wide variety of hours; so they can call in before work, during work, or after work, plus Saturdays and Sundays. They can apply via that channel as well as online at"

When you apply for a home loan, there is information you should be prepared to provide including: your salary and information about other income such as dividends and rent; your name, address, and phone number; if you are self-employed, you will need information about your income from last year's tax return; and details of your previous employment, if you have not been at your current job for three years.

You will also need: your driver's license number; information about your previous residence, if you have not lived at your current address for three years; information about your assets and liabilities, including home and property values; the value of your savings and life insurance; investments; motor vehicles, and other personal property; if you are renting, contact information for your landlord; and information about financial commitments such as other loans, credit cards, and store accounts.

Buying a home will be one of the most important financial decisions you will make in your life. It pays to be knowledgeable of the process involved.

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