A coach for the week you shop for a mortgage
Day 0: get ready before you call anyone
Coach's call
Before you ask for quotes, pull your free credit reports and fix errors, gather income and asset documents, and decide the loan you want priced: program, amount, term, lock length and whether you want to pay points. Having those decisions made is what lets you compare lenders fairly.
Last reviewed against the primary sources listed below.
Documents most lenders ask for
- Recent pay stubs and W-2s, or tax returns if self-employed.
- Recent bank and investment statements.
- Photo ID.
- The purchase contract, if you have one.
Credit reports
Get free reports from AnnualCreditReport.com and dispute errors early; the CFPB credit pages explain how.
Decide what you are pricing
- Loan program and amount.
- Term.
- Lock length that fits your closing date.
- Points or no points.
Shoppers ask the coach
What do I need to get a mortgage?
Proof of income and assets, ID, information about debts, and a property or price range. Lenders also pull your credit.
How do I begin to get a mortgage?
Check your credit reports, gather documents, decide the loan you want priced, then request Loan Estimates from several lenders in the same short window.