How To Get a Countrywide Home Loan

Introduction

Getting a Countywide home loan is much like getting a home loan through any company. You will have to do some work before the application process. Being organized before even starting the Countrywide home loan process can save you from a lot of headaches as the process progresses. Visiting the Countrywide home loan website is one way to begin the application process, but first follow some basic steps to be sure you are ready.

Step 1

• Obtain a copy of your credit report. It is important to know what is on your report. There may be items on the report that are errors, which can be disputed and removed. You may also have some long forgotten items on the report that are hurting you. If you can take care of some of these items before applying for your Countrywide home loan, you may be able to get a better interest rate.

Step 2

• Determine how much of a down payment you will have. If you are planning to apply for your Countrywide home loan right away, you will naturally have less than if you decide to wait several months of even a year. The more money you have for the down payment, the better your chances of qualifying and the lower your payments.

Step 3

• Gather all documentation that will be needed. In order to process a Countrywide home loan, certain documentation will be needed. You will usually need some of your most recent pay stubs as well as a couple of years of tax returns. These are used to show that you have had steady income. You may also need bank statements.

Step 4

• Fill out the form at the Countrywide home loan website. This will start the ball rolling. This form shows your interest in obtaining a home loan. You will then receive emails and telephone calls from those who can help you obtain this loan. It can be a long process between applying for the loan and actually closing on a house. However, it is well worth it once you sign the papers and become a homeowner. 

Step 5

• Remember closing costs. Be sure that you have the money available for closing costs once you are approved for your Countrywide home loan. These costs can be several thousand dollars and will have to be paid before you can close on the house. Countrywide home loan will be able to explain what will be covered by the closing costs.

Tips

It is always worth the money to have a home inspection done before buying a house. This will help protect you from unexpected surprises down the road.

Be realistic when determining how much of a mortgage you can afford. Do not over extend yourself and end up in a financial nightmare.

Working on your credit report far in advance is best, this will enable you to save a lot of money by getting a good rate for your mortgage.

It is not uncommon for a closing to be delayed or pushed back by a day or so. At times this happens more than once, it is nothing to be concerned over. It is usually due to paperwork issues with the lender.

Keep in contact with Countrywide home loan representatives if you have any questions.

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