There is much paperwork that a lender will want to get from you. They need to see for a fact how much money that you make each year and how you make this money as well as what your other assets and debts are. They will want to see records of pretty much all of your finances. The following is a list of the basics of what you will need to have for the lender however they may ask for some other paperwork: The last 2 years worth of W-2 forms and tax returns Pay stubs, these will need to have your name on them and your Social Security Number, the address of your employer and his or her name. Proof of your other yearly income, a list of all jobs that you have as well as a record of how you are making your money, meaning are you on commission or salary. This will include any investment money that you earn and any benefits retirement or otherwise. You will have to give the lender a list of your creditors and of your debts. This list will have to have all of your credit cards on it, any student loans and any child support and alimony payments that you have to make each month. If you have investments you will have to prove how much you make off of them each year. If you have investments you get statements each year, bring these in. Bring in any automobile licenses that you may have as well. If you pay any other mortgages each month or rents bring in some receipts and cancelled checks. IF you already know the house that you want to buy and you have a figure for the sales price then bring the sales contract in with you. If you are lucky enough to have great credit then you may not need to show the lender all of these things because they will trust you on your credit alone. But get everything together in advance just in case. |
