HomeBuyer University: Buying a Home, Just Got Easier

Once the seller has accepted your offer, it’s time to meet with your loan officer to complete your application for home financing. Your contract with the seller will probably require that you receive a mortgage commitment by a specific date and that the closing has to occur by a specific date. For these reasons, you should meet with your loan officer immediately to complete the application for your mortgage.

You should consult with your loan officer to determine which documents you will need to bring to your application meeting. However, the following list of documents is usually sufficient:

Income Documents

• Most recent paystubs covering the last 30 days for all borrowers.
• Last 2 years W-2 income statements for all borrowers.
• Last 2 years signed tax returns for all borrowers.
• If you receive Social Security, Disability, Pension, or any other form of fixed income, please provide a copy of the award letter(s).
• If self-employed or part owner in your company, please provide last two years business tax returns as well.
• Proof of alimony or child support income if it is needed for income qualification (Divorce Decree or Court Orders are considered proof).

Asset Documents

• 2 months of the most recent checking and savings bank statements (all pages).
• Most recent asset statements for 401k, IRA, stocks, and any other liquid assets.
• Copy of any good faith deposit checks made to the seller.

Property Documents

If you have already found a home you are interested in buying, please bring in:

• Fully executed purchase and sales agreement (if you have one).
• Your Real Estate Agent’s contact information.
• Annual property tax figure.

NOTE: If there are any life events on the horizon that may effect your income, assets, or employment, please notify your Loan Officer of any such event. Providing this information will help us provide you with the exceptional customer service that you deserve.