What does "Mortgage lender" mean?

To choose the right mortgage lender, compare interest rates, loan types, and fees from multiple lenders. Check their customer service ratings and response times. Ensure they are licensed in your state and read reviews from previous borrowers to assess their reputation. Lastly, look for transparency in their loan process and documentation requirements.

You need to provide documents such as your income statements (pay stubs for the last 30 days), tax returns for the past two years, W-2 forms, a list of your debts and assets, and a government-issued ID. Additional documents may include bank statements for the last two months and information about the property you wish to purchase.

Mortgage lenders usually take 30 to 45 days to approve a loan application. The approval timeline depends on factors such as the completeness of your application, the lender's workload, and the complexity of your financial situation. Providing all necessary documentation promptly can help expedite the process.