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Finance application form

finance application form

The finance application form is perfect for mortgage brokers, finance brokers, and banks focused on providing their clients with residential or commercial loans.

By using this list, you'll streamline your loan application process and gather essential information from applicants to make the best decisions for both your business and your clients. Let's get started!

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Questions to include on your finance application form

1. Applicant Information

This section collects the basic personal information of the applicant, which is essential for identification and contact purposes.

  • First Name
  • Last Name
  • Email Address
  • Phone Number
  • Date of Birth (MM/DD/YYYY)
  • Social Security Number

2. Employment Information

Gathering employment information is crucial for assessing the applicant's ability to repay the loan and for verifying their income sources.

  • Employer Name
  • Employer Phone Number
  • Job Title
  • Employment Status (Full-time, Part-time, Self-employed, Unemployed)
  • Annual Income

3. Loan Information

In this section, the applicant provides details about the desired loan, helping you determine if it is a suitable choice for their financial situation.

  • Loan Purpose (Purchase, Refinance, Home Equity)
  • Loan Amount
  • Property Value
  • Down Payment
  • Loan Term (15 years, 30 years)

4. Property Information

Collecting property information helps you assess the value of the property and determine if it can serve as collateral for the loan.

  • Property Type (Single-family, Multi-family, Condo, Townhouse)
  • Property Address
  • City
  • State
  • Zip Code
  • Estimated Property Value

5. Additional Information

This section collects any supplementary information that may be relevant to the applicant's financial situation or loan eligibility.

  • Credit Score Range (Excellent, Good, Fair, Poor)
  • Bankruptcy or Foreclosure History (Yes, No)
  • Co-applicant (Yes, No)

It is essential to include the question about bankruptcy or foreclosure history to understand the applicant's financial past, which can significantly impact their loan eligibility. Similarly, asking about a co-applicant is important as it can affect the approval process and loan terms.

Things to consider

  1. Mobile Responsiveness - Ensure that the form is easily accessible and user-friendly on all devices, including smartphones and tablets, to cater to a wider audience.
  2. Form Validation - Implement real-time form validation to provide immediate feedback on incorrect or incomplete fields, helping users identify and correct errors easily.
  3. Clear Instructions - Provide clear, concise instructions or field labels to guide users through the form. This reduces confusion and ensures accurate information is submitted.
  4. Security Measures - Implement necessary security measures, such as encryption and SSL, to protect sensitive data and comply with privacy regulations.
  5. Progress Indicators - If the form is lengthy, consider using progress indicators or splitting it into sections to help users visualize their progress and completion.
  6. Pre-fill Fields - Utilize pre-fill options for common data fields, such as drop-down menus or auto-complete suggestions, to save users time and improve form completion rates.
  7. Save and Resume Feature - Allow users to save their progress and resume the form at a later time, especially if the application process requires complex information or supporting documentation.

How to create your finance application form

Now that you know what questions you should include, it's time to build your form!

The only problem is that traditional forms tools are inefficient.

People will forget to fill out your form. They'll get stuck halfway and not be able to finish it. Or they'll send you the wrong stuff. You end up wasting hours chasing people down over email. 

That's why you should give Content Snare a try. 

Content Snare is packed with advanced features that will have you hours:

  • Automatic reminders - Remind people to complete their form with fully customizable reminders.
  • Reject incorrect information - If a single question is filled out incorrectly, ask your client to re-do just that one item.
  • Autosaving - No progress gets lost. People can fill out forms in multiple sittings.
  • Comments and questions - If the person filling the form gets stuck, they can ask a question without having to email you.

Give it a go by signing up for your free 14-day trial

Get the information you need without chasing people

Content Snare is the stress-free way to get information from anyone. Break free of your inbox and reclaim your time. Let Content Snare chase your clients for you.