| Once you have moved in and everything has settled down a little bit, it is time to sit down with a Lender or Mortgage Broker. This person will be your financing expert. A Lender or Mortgage Broker will be able to sit down with you and your household to help you figure out a plan and process for you to finance your home. Lenders and Mortgage Brokers are experts in the financial aspects of home ownership and will be able to help you design a plan that is right for you. At this point your mortgage professional will likely ask you to fill out an application. | ||
| The application will ask for information about your job tenure, employment stability, income, your assets (property, cars, bank accounts and investments) and your liabilities (auto loans, installment loans, mortgages, credit-card debt, household expenses and others). | ||
| The lender will run a credit check on you to take a look at your credit status. | ||
| *You will have to supply additional documentation including paycheck stubs, bank account statements, tax returns, investment earnings reports, rental agreements, divorce decrees, proof of insurance, and other documentation. |
Tags: home ownership, mn rent to own, rent, rent to own
