The Loan Application Process

The loan application process is a tedious job if you're unfamiliar with it. Here's a simple smart guide before you sign anything for your biggest investment.

There can be three circumstances why you're applying for a loan - a home purchase, refinancing or home equity loan.

Determine which is applicable to you and organize your documents ahead.

If You're Buying or Refinancing a Home:

• If you are salaried: provide two years W-2 and one month of most recent pay stubs.
• If you are self-employed: provide two years tax returns and a YTD profit and loss statement.
• If you own rental property, please provide rental agreements and two years tax returns.
• If you wish to speed up the approval process, please also provide three months bank statements for each bank, stock and mutual fund account.
• Provide recent copies of any stock brokerage or IRA/401K accounts that you may have.
• If you are requesting cash out refinance please provide a letter explaining what you plan to do with the proceeds. Provide a copy of divorce decree if applicable.
• If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.

If You're Applying for a Home Equity Loan:

• If you are salaried: provide two years W-2 and one month of most recent pay stubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.
• If you own rental property, please provide rental agreements and two years tax returns.
• Please provide a copy of the note on your first mortgage. This will normally be found in your closing loan documents.
• Please provide a signed letter explaining what you plan to do with the proceeds.
• Provide a copy of divorce decree if applicable.
• If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1.

Next step? Follow the links below. :-)

How to prequalify for a loan
How to choose a loan program wisely
Applying For A Loan With NLC
Quick Loan Application Form

The loan application process at the National Lending Corporation is aimed to save you a lot of footwork and get all the help that you need.

We at NLC will act as your advocate, and hold your hand from beginning to end as we both navigate through that perplexing process for your biggest investment.

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