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If you are in the process of applying for a mortgage or refinancing your current mortgage there are steps you can take to ensure the process goes as smoothly as possible. Here are tips to help you along the way.


After you have selected a mortgage lender and a loan , you need to submit the application and required documentation. Applying for a mortgage is not a difficult process; however, there are potential hiccups that could delay your closing on the loan. If you are unable to close before the time frame your lender is guaranteeing your interest rate expires, you could miss out on the rate you selected.


Here is all you need for a stress free closing.


Required Documentation


Your lender may require you to document your income. This document could be in the form of pay stubs or tax returns going back two years.


If you are self employed your bank statements going back two years might be better than providing tax records; your mortgage lenders could discount a portion of your self-employment income.


If you receive any other income such as veteran's compensation , child support, or Social Security payments provide documentation for this income.


To document your assets keep statements on file for any bank, investment , and retirement accounts you have.


Make Sure Your Credit is in Order


Before applying for the mortgage request copies of your credit reports from the three credit agencies and make sure the reports are accurate. If you find errors you will need to dispute the errors prior to submitting your mortgage application.


By ensuring your documentation is in order and your credit report is error free you will ensure a smooth closing on your mortgage application.


To learn more sign up for a free mortgage guidebook.