What Paperwork Do I Need?
About
  • What Paperwork will I Need?
  • This is a basic list of documents to prepare to submit to be Pre-Approved for your home loan. 
  1. 2 years of Tax Returns. (with the schedules, W2, or 1099's.
  2. Pay Stubs for the last 30 days. 
  3. 2 most recent months of your bank and asset statements. (ALL pages, even if blank)
  4. Copy of each borrower's Driver's license AND  social security card.
  5. Additional items for specific scenarios:
  • Self-Employed:
    • 2 years of Business Tax Returns (if you own 25% or more of a company.
  • Recent Separation or Divorce:
    •  Settlement agreement may be requested.
  • Current Home Owners:
    • Current mortgage  statements
    • Home Owners Insurance Declaration Pages
Basic Info
Tips to Ease Your Process:
  1. Check your credit report online prior to applying for a home loan to make sure the items are correct.
  2. Keep your bank accounts in the positive. The lenders love to see you have any savings. 
  3. Cash is NOT king in the mortgage shopping process. Use your cash for incidentals because substantial cash deposits do not qualify as money in this process.
  4. If you are borrowing money from your 401k, make sure to let them know if this is your first home.
  5. Please NOTE; your tax returns may REDUCE your income if you are writing off expenses.
  6. Stop using your credit. Become a professional window shopper during this process. The lender wants to see a stable financial profile from start to finish.
  7. When in doubt, CALL US. 
Share by: