The journey to buy a home is long, and is comprised of many smaller journeys. One of those journeys is the process of getting a loan. Usually, the process starts with applying for a loan directly through a bank or a mortgage broker.
To get the ball rolling, you will need to fill out a basic loan application. Additionally, you will have to provide copies of certain documents. These docs help provide a detailed snapshot of your employment and financial standing. Here is a list of the common documents loan professionals require:
- Last two years tax returns, all pages, all schedules. Federal only NOT California.
Completed loan application.
- Last two years W2s and/or 1099s.
- Pay stub(s) covering the last 30 days.
- Bank Statements for the last two months, all pages even if page 5 of 5 is blank.
- Copy of Drivers license.
- Copy of Social Security Card.
- If Divorced – divorce decree.
- If you have had a bankruptcy I will need your Bankruptcy paperwork.
- If you own one or more homes I need the mortgage, insurance, and HOA statements.
If you own one or more homes I need the mortgage, insurance, and HOA statements.
Keep in mind, depending on how long your transaction goes you may have to provide updated copies of some of these documents. Also, you might be asked to provide additional documents not listed.