Submitting a Loan Application

Now that you have found a home, you will need to submit a comprehensive loan application to the lender you settle upon. In general, lenders will ask for information and documentation in the following areas:

• Information about the home you are purchasing and the sale of your current home, if applicable
• Your income and assets
• Your debts

Most lenders also will charge you an application fee at this point, which usually costs between $300 to $500.

Click here for a checklist of the documentation that lenders typically ask for with the loan application. The list will give you an idea of the paperwork you’ll need to gather and help you prepare for the application process.