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Financing Your Home >The Loan Application
When you have decided on a mortgage lender, you begin the loan process by filling out a loan application. You should be fully prepared to go over your current financial situation and credit history with the loan officer.
Have a record of all of your current bank accounts, including the name and address of bank(s), type of account(s), and approximate balance(s). Be prepared to provide details about outstanding loans, including student loans and major credit accounts. You will also need information about your assets, such as car title, stocks and bonds, and life insurance policies. If you foresee any credit problems, ask the loan officer for advice on how to keep them from interfering with approval of your mortgage loan. The loan officer can usually give you a prompt opinion about your chances for obtaining a mortgage.
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| Q |
In what area of the United States did the price of existing homes increase most dramatically in 2005?
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| A |
Phoenix, Arizona real estate recorded a 55.2 percent increase in home prices during 2005. |
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