How to Get a Conventional Loan

Compiling the Paperwork

1). Locate the necessary paperwork for the lender, which the lender uses to help them decide if you qualify for a conventional auto, personal, home or business loan. You'll usually need copies of your two most recent pay stubs from your employer, your two most recent tax returns and your checking and savings account information.
2). Make copies of this information. Fax, mail or email these copies to your lender.
3). Fill out your loan application. Every lender has a different application form, but most are two to six pages. You'll have to provide information such as your yearly income, your levels of debt and whether you've ever declared bankruptcy or have had any financial judgments filed against you. Send the form back to your lender either by fax, mail or email.

1). Take action to improve your credit score before applying for a conventional loan. Pay your bills on time and pay off as much of your revolving debt as possible. Both steps will gradually raise your credit score, and improve your chances of qualifying for a conventional loan.
2). Give your lender permission to run a credit check. Your lender runs a credit check to help them determine if you qualify for a conventional loan. By running this check, your lender will know if you have a history of paying bills on time and whether you've run up a significant amount of revolving debt.
3). If you don't want to take the steps to improve your credit score, you can apply for a sub-prime loan. You'll have to pay higher interest rates because lenders will consider you a risky borrower.