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Thinking About Getting a Mortgage? Be in the Know and Check Out These FAQs You May Be Asked

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If you’re planning on buying a home, part of the application process is answering questions about your finances, credit and what your timeline to purchase looks like. At Churchill Mortgage, we emphasize communication to make sure you feel confident through all stages of your mortgage experience.

Here’s a great way to get a head start and check out some of the questions of what you’ll be asked when applying for a home loan:

  • How soon are you wanting to buy?
  • How are you searching for a home right now? (websites, apps, Realtor®, etc.)
  • Are you currently working with a Realtor®? If not, I can recommend an experienced agent who I personally know.
  • Have you made an offer to purchase a property? If yes, what is the address of the property?
  • What is the price range of homes you’ve been considering?
  • Do you need to sell another property before purchasing a new home?
  • Are you a W2 employee or self-employed? If you’re a W2 employee, what is your base income?
  • How long have you worked for your current employer?
  • Are you a veteran?
  • How much money are you planning on for a down payment?
  • How much money do you have currently saved in your retirement accounts (IRA, 401K, stocks, bonds, etc.)
  • How would you rate your credit (excellent, good, poor, etc.)?
  • Are you currently renting? If yes, how long have you rented and what is your monthly payment? Have you had any late rent payments?
  • Do you currently have any credit card debt? If yes, how much and what is your minimum monthly payment?
  • Do you currently have any other loans (auto, student, etc.)? If yes, how much do you owe in total and what is your minimum monthly payment?

By knowing a lot of the questions you’ll be asked, it can also better prepare you for what questions you want to ask your Home Loan Specialist as you move forward with a home loan.

If you’d like more information about the mortgage process, download our Home Buyer Starter Kit: 10 Simple Steps to Success or if you’d like to apply for a home loan today, click here.

Are you buying a home or refinancing?

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By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive text messages sent by an automatic telephone dialing system. Consent to these terms is not a condition of purchase.

Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents to you in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal government agencies. U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or www.hud.gov/counseling

Es probable que su transacción de préstamo hipotecario suceda en inglés. Por medio de esta pregunta, solicitamos información para determinar si existen comunicaciones disponibles a su servicio, en su idioma preferido. Sírvase tener en cuenta: posiblemente NO hay comunicaciones disponibles en su idioma preferido.

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