10 Things a Lender Needs From You
1. W-2 forms or business tax return forms if you're
self-employed for the last two or three years for every person signing the loan.
2. Copies of at least one pay stub for every person
signing the loan.
3. Copies of two to four months of bank or credit
union statements for both checking and savings accounts.
4. Copies of personal tax forms for the last two to
three years.
5. Copies of brokerage account statements for two
to four months, as well as a list of any other major assets of value, e.g., a
boat, RV, or stocks or bonds not held in a brokerage account.
6. Copies of your most recent 401(k) or other
retirement account statement.
7. Documentation to verify additional income, such
as child support or a pension.
8. Account numbers of all your credit cards and the
amounts of any outstanding balances.
9. Lender, loan number, and amount owed on other
installment loans, such as student loans and car loans.
10. Addresses where you have lived for the last
five to seven years, with names of landlords if appropriate.
Once you've decided that you want to buy a home, your next step is to find a lender. The above list is not what you will need initially, but in the process of the purchase, they will ask for these items. Give me a call or drop me an email if you need help finding a lender, or have any questions that I can help you with.
