Monday, February 15, 2016

Are you applying for a loan? Here's what you need

Applying for a loan can be a complicated process but if you have everything you need then the application process will be a breeze.

When applying for a loan, be sure to have proper documentation including tax returns and proof of employment.You should first have an idea of what kind of loan you want. Most home loans have a time period of 15 or 30 years. If you don’t want to be paying off your home for a long time, a 15-year loan is the way to go. However, with a 15-year loan your monthly payments will be higher than if you go with a 30-year loan. A 30-year loan will have lower monthly payments, but you will still be paying off the loan in a longer time period.

The next step in applying for a loan is to make sure you have all your necessary documents. It is of the utmost importance that you can prove who you are and that you are going to be able to pay back your loan with proof of employment. This means you may need copies of pay stubs, contact information for employer(s), W-2s, tax returns, bank statements, social security, and information on other debts (i.e. student loans, car loans, and credit cards).

With all of the required paperwork at hand, you can now start applying for a loan.
Apply online today or contact a Midwest Equity Mortgage, LLC Loan Expert to get started.

Midwest Equity Mortgage, LLC

855-767-3434 | MidwestEquity.com
Now more than ever, you need to work with someone you can trust. Ask us about our A+ rating from the Better Business Bureau and you will know: you have found your lender! Why are you still waiting for the “big bank” to call you back? Get in touch with someone who cares-TODAY!

All information provided in this publication is for informational and educational purposes only, and in no way, is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Midwest Equity Mortgage, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Midwest Equity Mortgage, LLC do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

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