Here’s everything you need when you go to apply for a mortgage.
Here are the things you need to gather when you decide to apply for a mortgage:
1. Tax returns. Most mortgage lenders want to see two years of tax returns.
2. Pay stubs.
3. W-2 Forms. They’ll want to see two years of W-2s.
4. Bank statements and assets.
5. Credit score. They will pull your credit history. Make sure you know your credit score before you apply.
6. Valid photo ID.
7. Rental history. If you haven’t owned a home before and don’t have a good credit score, they may want you to provide this.
If you’re getting a gift letter for the closing costs or down payment, you need to make sure to tell the lender upfront. That has to be approved. They’re very particular and look very closely at all of your bank statements. You have to be able to explain any large deposits made into your bank account.
If you get all these things together for your lender, you’ll be well on your way to getting your pre-approval letter. If you have any questions, give us a call at 210-305-5665. We look forward to hearing from you.