Home Loan Documentation: A Checklist
Home Loan Documentation: A Checklist
When applying for a home loan, it’s essential to have all the necessary documentation ready. This can streamline the process and increase your chances of approval. Here’s a comprehensive checklist:
Personal Identification
- Driver’s license or state-issued ID
- Passport (if applicable)
- Social Security card
Income Verification
- Pay stubs from the past two years
- W-2 forms from the past two years
- Tax returns from the past two years
- Self-employment income verification (if applicable)
- Letters of employment
Asset Verification
- Bank statements for the past two years
- Investment account statements
- Retirement account statements
- Stock or bond statements
Property Information
- Purchase contract
- Property tax statements
- Homeowners insurance policy
Credit History
- Credit report
Additional Documents (as needed)
- Divorce decree (if applicable)
- Child support or alimony documentation
- Bankruptcy discharge papers (if applicable)
- Gift letter (if receiving a gift for the down payment)
Remember: Lenders may request additional documentation depending on your specific circumstances. It’s always best to be prepared and have all necessary documents readily available.