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Shop Amazon Stores in the Radical Academy Bookstore Magazine Outlet Music Store Classical Music Store Video Store DVD Store Computer Store Camera & Photo Store Computer/Video Games Software Store Musical Instruments Outlet Store Cellular Phones Toys & Games Tools & Hardware Automotive Store Outdoor Living Consumer Electronics Home & Garden Kitchen & Housewares Baby Superstore Apparel & Accessories Gourmet Food Grocery Store Sporting Goods Jewelry & Watches Health & Personal Care Beauty Store Academy Showcase Specials		Applying for a Home Loan by Jakob Jelling   Applying for a home loan may not be the most exciting way to spend your time, but if you are like many potential homeowners, it is probably a necessary evil. If you have some knowledge of the process ahead of time, however, it will go much more smoothly.  Home loan applications tend to be very long, but if you are prepared ahead of time you can finish the application procedure without breaking a sweat. Before you begin filling out the form, make sure you have available your Social Security number, information pertaining to previous employers and residences, recent pay stubs, copies of credit card and loan statements, copies of bank statements and asset information such as stocks, pension and retirement funds. Begin the form by simply filling out each line with the requested information but leave Section I, entitled Type of Mortgage and Terms of Loan, blank.  Next fill out Section II, Property Information and Purpose of Loan, with any of your available information. Only fill in the subject property address line, however, after you have an accepted offer on a property. If you don't have a property yet, simply state the purpose of the loan as purchase or refinance, as well as the type of property the loan will cover (primary, secondary, or investment). Also write down all the names in which the title will be held, how the title will be held, and the source of the down payment (this is usually in cash).  In Section III, Borrower Information, you must fill out your personal information including name, Social Security number, phone, age, years in school, marital status, number of children and their ages, and present and previous employers.  Section IV is Employment Information, while Section V is Monthly Income and Combined Housing Expense Information (use your pay stubs for this section).  Section VI, Assets and Liabilities, can be filled out using bank statements, as well as credit card and loan statements. Leave Section VII, Details of Transaction, blank.  Finally, answer the question in Section VIII, Declaration, then sign and date the application. Also sign Section IX, Acknowledgement and Agreement. About the author: Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. Because The Radical Academy publishes essays and articles on its website does not imply acceptance or approval of the comments or opinions expressed by the author of the material. Nor is the Academy responsible for any misrepresentation of the facts included. It is your job to be a critical reader. Enrich Your Life With A Business Or Finance Book Enrich Your Life With A Business Or Finance Magazine Resource Center Main Page & Index
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