The documents you need to provide when applying for a residential mortgage generally vary depending on the loan. Working directly with a mortgage company beforehand allows you to learn how to apply for a home loan so the process goes smoothly. Developing a loan checklist ensures you have all of the information you need before meeting with a lender and can also help you get prequalified for a home loan. When it comes to documentation, it is important to have up to two years’ worth of records. Here are some general items you will need when you apply for a home loan:
- Income and tax information, such as W-2 forms, paycheck stubs, and tax returns
- Bank statements including account balances, contribution history, etc.
- A list of any assets that you own, such as rental property
- Your rental and/or mortgage history
- Your employment history and current employment details
- Personal identification, including Green Card, if applicable
- The purchase contract, also known as a purchase agreement
- Other pertinent items, such as a bankruptcy discharge notice or divorce decree
- Your loan application
Check out our other tips for potential home buyers and contact us today for a free quote!
