Applying for a mortgage is a daunting process, so being informed is key to make the entire process go a little easier. Still, there are many things to learn and consider, so we have created an overview that gives you immediate access to the essentials of your mortgage application. These basics should give you a solid basis to start your application, so be sure to read on and discover them!
Mortgage Type and Loan Terms
On your loan application, you will find the “type of mortgage and terms of loan” section. The information filled in this part of your application should match the mortgage and the terms you’ve discussed with the loan officer. If you have not selected your property yet, you can enter the amount of money you wish to borrow.