FIRST STEPS 47. WHAT STEPS NEED TO BE TAKEN TO SECURE A LOAN?
The first step in securing a loan is to complete a loan application. To do so, you’ll need the following information. Pay stubs for the past 2-3 months W-2 forms for the past 2 years Information on long-term debts Recent bank statements tax returns for the past 2 years Proof of any other income Address and description of the property you wish to buy Sales contract During the application process, the lender will order a report on your credit history and a professional appraisal of the property you want to purchase. The application process typically takes between 1-6 weeks.
