If you're serious about buying a home, you're going to need a mortgage loan. The specifics of the loan you can get will depend on your lender's assessment of your current financial situation and past credit history. We understand this part can be scary. It's tempting to procrastinate for the same reason people put off going to the doctor: it's a hassle and there's a possibility you'll get bad news. The sooner you overcome your fears and contact your lender, the sooner you'll know what you can afford and knowledge is power.
DON'T HAVE A LENDER?
Not a problem. As experts in the industry, we pride ourselves on the relationships we have with our partners. We'll happily refer you to one of our trusted lenders.
- Review your credit report, free at www.annualcreditreport.com
- Down payment and closing funds in your bank account. If you were given money, prepare a signed letter from the donor confirming it was a gift, not a loan.
- Gather necessary documents for the loan process. We recommend uploading everything to a dropbox folder for easy access.
- Employer information for the last 2 years (names, addresses, phone numbers)
- 2 forms of government identification
- Your home addresses for the last 2 years
- W-2 forms for all jobs for the last 2 years
- Most recent pay-stubs, including year-to-date earnings
- Self-employed only: signed personal tax returns for the last 2 years
- Most recent bank statements for all accounts
- Most recent statement for any/all stock, bonds, mutual funds, 401Ks, IRAs, etc.
- If you have been renting, put together proof of payment for the past 12 months