To all you buyers out there, just a reminder about these essential documents.
Getting a mortgage is a process, but there are things you can control. And that means pulling together legible copies of all the correct documents needed to submit a loan application so you can save yourself time, money, and stress.
Items Needed for a Loan Application:
- Driver’s License and Social Security Card and/or Green Card
- Pay Stubs for the last 30 days
- Social Security and/or Pension Awards Letter
- W-2s or 1099s for the past 2 years
- Tax Returns for the past 2 years (all pages)
- If self-employed, 2 years business tax returns and YTD profit/loss statement
- Bank statements for most recent 2 months (all accounts/all pages)
- Mortgage statements for any properties currently owned that are not being sold
- Declarations page from property insurance policy from all owned properties
- Copy of property tax bill from all owned properties
Always expect there could be additional items that underwriting requires for an approval as we progress, but if we begin with a strong foundation it will be easier and quicker to take you step by step through the loan from pre-approval to closing.