Paycheck stubs. W-2's. Bank statements. Piles of paperwork. Investment statements. Your first born child.
Okay, so maybe that's a little far. But the question of "what do I need to bring to my loan application?" leads to thoughts of a lender digging so far into your personal life, they know more about you than your own mother.
While a mortgage bank will need to know a lot about your financial situation, it doesn't need to know everything about your personal life.
First, when you get pre-approved for a mortgage we go through a lot of paperwork involved in the actual mortgage loan application. This includes your credit report and employment information. So the more you have at pre-approval, the easier the actual mortgage application process goes.
Let's look at the materials first time home buyers need to have ready for that first mortgage application.
- ~W-2's for the last 2 years
- ~If you're self-employed bring in full tax returns for 2 years
- ~Pay stubs for 1 month
- ~We will pull your credit report for you
- ~Bank statements for 2 months
- ~Drivers license
- ~Child support information (whether you pay out)
- ~Other income information
- ~Purchase agreement if you have one
Again, the more information we collect for the pre-approval process (which is where you get to know how much house you can afford) the easier the actual application process is. You can always call or email AmeriFirst with other questions. Or download the free kit for first time home buyers below. It's a completely free PDF for you to have and keep.
Any other questions you can think of? Ask us in the comments below. We'll answer it, and maybe turn it into another article. After all, if you're wondering about it, someone else probably is also.
(paperwork photo: Toms Baugis)