Applying for a mortgage is one of the most important steps in the home-buying journey. At North Star Mortgage Network, we’re here to guide you through the process and ensure a smooth path to homeownership. If you’re wondering how to apply for a home loan, this guide will walk you through everything you need to know—including what documents you’ll need to gather to keep the process moving quickly.

Step 1: How to Apply for a Home Loan and Start Your Pre-Approval

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Thank you for your interest in working with us! To get started, click the Apply NOW button above to begin your pre-approval application.

A Few Important Reminders Before You Apply:

  • Unfreeze Your Credit Reports – Ensure all three major credit bureaus (Experian, Equifax, and TransUnion) are accessible.
  • Provide A Full Two-Year History – List your two most recent years of residence and employment history.
  • Document Your Funds to Close – Include these details in the assets section of your application.

The more information you provide upfront, the smoother and more accurate the pre-approval process will be. If you have any questions, feel free to reach out!

Step 2: What Documents Are Needed When Applying for a Home Loan?

Before we can finalize your loan approval, you’ll need to submit several important documents. Knowing how to apply for a home loan means being prepared with the right paperwork to speed up underwriting.

Basic Documents for All Homebuyers

Whether you’re a first-time homebuyer or purchasing another property, these documents are required:

  • Clear Copy of Driver’s License – A valid form of ID for all borrowers on the loan.
  • Pay Stubs – Provide the two most recent pay stubs (covering the last 30 days) per borrower.
  • W-2 or 1099 Statements – The past two years of W-2s (for employees) or 1099s (for independent contractors).
  • Employment Verification – A contact name and number for someone who can confirm your employment.
  • Bank Statements – The past three months of complete bank and asset statements (all numbered pages).
  • Retirement & Investment Statements (if applicable) – If using these funds for your purchase, provide the most recent statements.
  • Gift Funds Documentation (if applicable) – If receiving gift funds, we’ll need a gift letter and proof of transfer.

Step 3: Additional Requirements for Self-Employed Borrowers

If you are self-employed or own a business, additional documentation is required to show stable income and financial health.

  • Federal Tax Returns (1040s & 1120s) – The last two years of personal and business tax returns, including all schedules.
  • Business Bank Statements – If you have a separate business account, submit recent statements to verify cash flow.
  • Profit & Loss Statement – Some lenders require a year-to-date profit and loss (P&L) statement, especially if tax returns are outdated.

Step 4: Additional Documents If You Already Own Real Estate

If you currently own a home and are purchasing another property, additional documentation will be needed:

  • Current Mortgage Statement – If you have an existing mortgage, provide a recent statement showing balance and payment details.
  • Homeowners Insurance Declaration Page – Proof of insurance coverage for your current home.
  • Property Tax Statements – A copy of the most recent property tax bill for any homes you currently own.
  • Homeowners Association (HOA) Documents – If your home is part of an HOA, provide the latest statements or fee details.

Schedule of Real Estate Owned

If you own multiple properties, a Schedule of Real Estate Owned is required. This document lists all properties you own, their market values, mortgage balances, and rental income (if applicable). This helps underwriters assess your full financial profile.

Step 5: How to Apply for a Home Loan Without Delays

To ensure a smooth mortgage process, follow these best practices:

  • Send all requested documents at once – Missing items can slow down the process.
  • Include all pages – If a bank statement says “Page 1 of 4,” all four pages must be included.
  • No screenshots – Underwriting requires full statements, not screenshots or cropped images.
  • Avoid staples – This helps speed up processing.
  • Keep documents unaltered – Do not black out, cross out, or white out any information.
  • Hold off on large bank transfers – All deposits must be sourced, so check with us before making transfers.

You don’t need to send original documents! We offer a secure upload portal for safe and easy document submission—let us know, and we’ll send the link.

Why Getting Pre-Approved Before House Hunting Matters

Understanding how to apply for a home loan and getting pre-approved before shopping for a house has several advantages:

  • Know Your Budget – A pre-approval provides an accurate estimate of how much home you can afford.
  • Make a Stronger Offer – Sellers take pre-approved buyers more seriously, giving you an edge in competitive markets.
  • Speed Up the Closing Process – With pre-approval, your loan approval moves faster, helping you close on time.

At North Star Mortgage Network, we’re committed to making home financing as stress-free as possible. If you have any questions or need guidance, our team is here to help!

Why Work with North Star Mortgage Network?

At North Star Mortgage Network, we prioritize transparency, communication, and efficiency to ensure a smooth mortgage experience. But don’t just take our word for it—see what our happy clients have to say!

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Let’s Get Started! Apply for Your Home Loan Today

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If you have any questions, feel free to call, text, or email us anytime. We look forward to helping you achieve your homeownership goals!

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Nathan Young

Phone: 904-613-7700
Website: www.nsmn.com
North Star Mortgage Network, Inc.

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