Mortgage financing can be obtained from mortgage bankers, mortgage
brokers, savings and loan associations, mutual savings banks, commercial banks,
credit unions, and insurance companies. A growing number of REALTORS® can also
arrange financing. Large real estate corporations own their own mortgage lending
subsidiary, some real estate agents are also mortgage brokers and others simply
refer clients to affiliate lenders and brokers.
To obtain a loan you must complete a loan application and provide supporting
documentation. Specific documents include recent pay stubs, rental checks and
tax returns for the past three years. During the prequalification procedure, the
loan officer will describe the type of paperwork required.
