We haven’t talked financing in awhile and with peak buying and selling season getting underway, I thought it was important to revisit
some important things to remember when applying for home financing.
The list below are all items that you will need in order to finalize your loan and in many cases in the current marketplace, you will need most of these to get pre-approved. Before you even start looking for the perfect house, it is important to get pre-approved. This helps you know what the bank is willing to loan you and it reassures a seller when you make an offer on their house. So go on and start gathering the things on this list. It will make the process less stressful knowing you have a few days to get it together than to wait until you have found your dream home and have to rush to find everything quickly!
Keep in mind, your lender may require additional documents, but this is a good starting point! AND if you are applying for the loan with someone else these documents need to be supplied for EVERYONE on the application!
Driver’s License and Social Security Card
These two may seem obvious, but many people forget about their Social Security Card, banks will want a copy of yours along with your driver’s license.
If you are renting now, you will need to supply all contact information for your landlord.
There are four big ones in this group.
1. Your most recent pay stubs for the past 30 days.
2. Two months worth of banking and asset statements.
3. Signed Federal Income Tax Returns (every single page) for the last 2 years.
4. Two years worth of W-2 forms from all employers.
Do you want to see what is currently available? Click here and search the area’s housing inventory!