Happy 2016! It’s the time of year to get organized. Many people pay special attention to their finances these next few months.
They look at how their investments are doing and make any necessary changes to make sure that they are on track with their goals.
If you have a goal of buying a new home this year, there’s going to be a few things that a lender will be asking copies of. Here’s a handy list of documents that you could be asked for, depending upon your
- Names, addresses and phone numbers for all employers for the last two years.
- Copy of most recent 30 days of pay stubs.
- W-2’s and tax returns for the last two years.
- Last 2 years’ personal tax returns including all schedules and W-2’s.
- If you own 25% or more in a partnership or corporations, business returns in addition to your personal returns.
- Copies of 1099’s, income stubs, award letters for Social Security and retirement income.
- If relying on income or have obligations as a result of child support or alimony, the complete divorce decree and property settlement agreement.
- Lease agreements, copy of tax bills, insurance dec pages for all rental properties owned.
- Copy of last two bank & asset statements (all pages).
- Copies of any stocks, mutual funds, CD’s and 401k statements.
- Knowledge of the value of your personal property, including household goods and personal property, autos, life insurance or miscellaneous assets.
- Copy of Earnest money check and evidence it has cleared your bank account.
- Required monthly payments and balance on any obligation that you currently have.
- If refinancing, Copy of Owner’s Title Policy and your existing survey.
- Copy of HUD-1 Settlement Statement on recently sold home.
- Divorce decree/property settlement agreement: only if relying on income or have obligations for qualification purposes.
- Copy of Bankruptcy papers – petition, discharge, and detailed information.
- Copy of fully executed sales contract.
- Copy of your driver’s license.
- Landlord’s name, address, and phone number.
As third party information is verified during processing, additional documentation may be requested.
If you have any questions about what will be required based on your personal situation, please give us a call.