🏡 What You Usually Need to Apply for a Home Loan
1. Personal Information
- Valid government-issued ID
- Social Security number
- Current address and previous addresses
- Date of birth
- Contact information
2. Employment & Income
- Last 2 years of employment history
- Recent pay stubs (usually the most recent 30 days)
- W-2s from the last 2 years
- Federal tax returns, if required
- If self-employed: business tax returns and/or profit & loss statements may be required
- Documentation of other income, such as retirement, Social Security, commissions, bonuses, or rental income
3. Assets & Funds
- Recent bank statements, typically 2–3 months
- Investment or retirement account statements, if being used
- Proof of the source of your down payment
- Documentation for gift funds, if applicable
- Proof of funds for closing costs and reserves, when required
4. Credit & Debts
The lender will review your credit history and existing debts, including:
- Credit cards
- Auto loans
- Student loans
- Personal loans
- Child support/alimony, when applicable
- Other monthly obligations
5. Property Information
Once you have a property under contract, the lender may need:
- Purchase agreement
- Property address
- Homeowners insurance information
- Appraisal
- Title information
💰 The lender is basically looking at 4 big things:
Income + Credit + Assets + Debt
They use these to determine whether you qualify and how much you may be able to borrow.
You can call me or text me: 424-347-0229
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