What are the requirements for a mortgage application?

To apply for a mortgage at Crown Bank, certain requirements must be met. Firstly, applicants must provide proof of income, including pay stubs, tax returns, and bank statements to determine their ability to make mortgage payments. A credit check is also conducted to assess the applicant's creditworthiness, looking at factors such as credit score and payment history. Additionally, an appraisal of the property being financed is required to determine its value and ensure it meets lending standards. The applicant's debt-to-income ratio is assessed, considering their current financial obligations and their ability to handle additional debt. Lastly, applicants must provide personal identification and relevant documentation, such as a valid ID, social security number, and details about the property being purchased. Adequately meeting these requirements increases the chances of a successful mortgage application with Crown Bank.