What Do I Need to Make Loan Application?

What do I need to make Loan Application?

The lender is going to need to know your date of birth and Social Security number in order to pull a standard credit report. Once you have provided that information, here is a list of other documents the lender will need you to provide: 

• Proof of income – at least 2 consecutive pay check stubs
• Tax returns – most lenders require at least 2 years of filed tax returns
• Proof of assets – if you have investments (IRA, 401K, etc) you will need to show proof of those funds to the lender
• You will also need to provide copies of your W-2 forms from your employer
• Bank Statements – you will need to provide at least 2 months of current bank statements for ALL accounts you manage for your personal household
• If you plan to use gift money for your down payment, you will be asked to provide documentation for where and who will be gifting the money.

This may seem like a lot of paperwork to and perhaps a hassle in order to qualify for a home loan, but you will make the process that much easier if you are prepared ahead of time! *Depending on your personal situation, you maybe asked to provide additional documentation not noted above to make loan application. This list is provided only as a general idea of the basic information needed to begin the loan application process.