Items Needed To Purchase Your Home Or Investment Property
Your List
Proof of Income
- Pay stubs (last 2-3 months)
- W-2 forms (last 2 years)
- Tax returns (last 2 years, if self-employed)
- 1099 forms (if applicable)
- Profit and loss statements (for self-employed individuals)
Employment Verification
- Employer contact information
- Letters of employment (if required)
Proof of Assets
- Bank statements (last 2-3 months)
- Statements for investment accounts (retirement, stock, etc.)
- Proof of additional assets (like real estate or vehicles)
Credit Information
- Authorization for a credit check
- Details about any recent credit inquiries or large purchases
Debt Information
- Monthly debt obligations (car loans, student loans, credit cards, etc.)
- Current balances on loans and credit cards
Identification Documents
- Government-issued ID (driver’s license, passport, etc.)
- Social Security number
Down Payment Documentation
- Proof of funds for the down payment (bank statement or gift letter if applicable)
Residential History
- List of addresses for the past 2 years
- Lease agreements (if renting)
- Proof of rent payments (if applicable)
Purchase Agreement (when available)
- Copy of the signed purchase agreement for the home
Gift Letters (if applicable)
- Signed letter from the person gifting funds for the down payment, confirming it's a gift and not a loan
Miscellaneous Documents
- Divorce decree (if applicable)
- Bankruptcy discharge papers (if applicable)
- Documentation of alimony or child support (if applicable)
This list helps ensure that all necessary financial and personal details are submitted for a smooth home buying and mortgage approval process.