If you're like most people, purchasing a home is probably one of the biggest investments you'll ever make in your lifetime. If you're considering buying a home, you're likely aware of the complexity of the endeavor. Because of the numerous factors to consider when purchasing a home, it's important to prepare as best you can. At Mortgage Capital Group, Inc., we are dedicated to finding the loan that fits your individual needs.
Paperwork Needed for a Loan
To apply for a loan, you will have to provide the lender with detailed documentation of your financial history. The lender will request a credit report from a credit agency and will verify the information provided in your loan application. Be prepared to give your lender:
- Social Security numbers for both you and any co-borrowers.
- Copies of checking and savings accounts statements for the past two months.
- Evidence of any other assets such as bonds, stocks, or money saved in retirement programs (i.e. 401k or 403b program)
- Recent paycheck stubs.
- W-2 withholding forms, or income tax returns for the past two years to verify your income and proof of employment.
- The name and address of someone who can verify your employment.
- Residence history for the past two years.
- Sales contract for the purchase of a new home.
- Homeowner's association information with contact information if property is a condo or part of a homeowner's association.