Paperwork Needed
To apply for a loan, you will have to provide the lender with detailed documentation of your financial history. The lender will request a credit report from a credit agency and will verify the information provided in your loan application. Be prepared to provide:
- Social Security numbers for both you and any co-borrowers
- Copies of your social security card and drivers license
- Copies of checking and savings accounts bank statements for the past two months
- Evidence of any other assets such as bonds, stocks, or money saved in retirement programs (i.e. 401k, Sep, IRA, Keogh, etc)
- Most Recent 2 months of paycheck stubs
- W-2 withholding forms, & income tax returns for the past two years to verify your income and proof of employment
- The name and address of someone who can verify your employment (usually your employer, unless self employed)
- Residence history for the past two years
- Sales contract for the purchase of a new home
- Homeowner's association information with contact information if property is a condo or part of a homeowner's association
Purchase
If you're like most people, purchasing a home is probably one of the biggest investments you'll ever make in your lifetime. If you're considering buying a home, you're likely aware of the complexity of the endeavor.
