Before you apply for a mortgage loan, you need to read this article. We have included the 12 best tips to qualify for a mortgage loan now. Mortgage requirements are almost universal. Understand that the firm that provides the initial loan will probably sell it. Before the initial lender can sell your loan, it must meet specific requirements. At a minimum, you will learn 12 valuable tips to help you obtain a loan. These tips will help you facilitate getting the loan in the shortest possible time.Your loan broker or banker will gather your information and submit it to an underwriter. This person will investigate what you have provided. Provide accurate information, don't guess.Tip 1: PreparationAt least six months before applying for a loan pre-approval which is the first step in the process, obtain your credit report. You can obtain the report from various sources at no charge including once per year from the government website: Annual Credit ReportYou need all three reports: Expedia, Transunion, and Equifax. Each bureau has its system for reporting. Review each item on the report. Check off any items that are not yours. If there is a bad debt or late item and they are accurate, those are there to stay. Focus on inaccurate things. My name is the same as my father's so we often had each other's items. If it's not yours, you will contact the bureau and tell them the story. List addresses on the report. Indicate what they mean. The purpose here is t determine that you do not own any of those properties.Cleaning up your reportNow that you have created a list of addresses and names, get these issues fixed with the bureaus. Don't waste any time doing this. In most cases, the bureau will not remove your misspelled name or even the addresses.Explain in your letter to the bureaus why the items are not yours or are correct. Do not contest things that are accurate even if you would like to see them gone. Contesting things will stay in the report for a while and you will have to explain them.It would be good to obtain a copy of your FICO scores as well. You can obtain a copy of your FICO score for a fee by clicking here: You will not know which score your lender will use until you apply but knowing your score before you meet the broker will help. Your loan broker may be able to help you improve your score.Tip 2: Pursue credit report correctionsYou may need to send several letters, the process is not easy. Don't expect them to remove accurate items. The reason why this is listed as a tip separate from tip 1 is because of the time to send, receive, respond, resend, etc. Since COVID everything is slow. Retain your final answers, you may need to provide them or explain them in a letter. Create a letter to the lender and address wrong addresses and name misspellings. Address an address where you have never lived like this: "123 Main Street - My office address, never owned or lived there".Women who were married and used other names will be required to submit proof of divorce. List this in your letter: "Married to Sam Jones, divorced on 1/1/20 at City of Smithville Court." If you retained your maiden name after the divorce it will be included in the documents and should be prepared to provide that.Go to our website to see Tips 3-13We are ready at Logan-Anderson, Gulf Coastal Realtors to help you find that perfect home. Use our website to search. Sign in so you can save your searches. Send us a note, call, or text when you are ready to talk about properties.

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