2. Your loan officer will contact you to assess your situation and determine your financial goals. Expect to discuss the following information: the estimated value of your home, your credit history, and your home's equity.

3. Based on the information collected as well as your credit report, your loan officer will quote you an interest rate and APR and the loan amount for which you are likely to qualify.

4. Your loan officer will request financial documents. (See the Mortgage Checklist for a list of documents that may be requested)

5. With your application now complete, your loan officer will notify you when your loan is approved. At this time, an appointment will be made for signing the loan papers.

2. A copy of the most recent month's pay stubs for all applicants (e.g., if you are paid twice per month, you would need to bring two pay stubs -- continue to save your pay stubs until you close your loan).

3. A copy of your W-2 forms for the last two years, covering all jobs for each applicant.

4. A copy of your bank statements for the past three months, including all pages, for all checking and savings accounts (continue to save your bank statements until you close your loan).

5. The name, address, and telephone number of your landlord or mortgage company for the last 24 months of residency.

6. Copies of 401K and IRA current statements for the past three months, if applicable (e.g., for mutual fund accounts).

7. The last twelve months' cancelled mortgage payment or rent checks (if readily available).

8. A check or money order for payment of the application deposit (funds necessary to order an appraisal and credit report): Conventional mortgage -- $325; FHA -- $375, payable to Preferred Mortgage, Inc.