What to expect on the mortgage application

Hand holding pen and signing mortgage

Every application for a mortgage asks the same questions. It doesn't matter whether you're applying in person or online, or whether you're using paper or electronic forms.

Your lender will ask:

* For your street address, e-mail address, phone and Social Security numbers. If you've lived at your current address for less than three years, the lender will want to know where you lived before that. If you are buying the home with another person or persons, they'll probably want to know your relationship to the co-borrowers.

* If you currently rent, own or live with family.

* How many dependents you have.

* Your annual income.

* Your occupation, employer and how long you've been employed. If you have been with the company for less than two years, they will ask where you worked previously.

* Your assets -- what you own and what they are worth. This includes your current home and other property, checking and savings accounts, stocks, bonds and retirement accounts.

* Your liabilities -- how much you owe, to whom, and how much you pay every month.

* Whether you have filed for bankruptcy in the last 10 years.

* If you are behind on any bills.

* If you a first-time buyer.

* If you are buying a home as a residence or rental property or, in the case of a duplex or other multifamily unit, both.

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