Ensuring that there is adequate funding for your new home can be one of the most stressful parts of the home buying process. There's great news here though because Rudy Professional Services, Inc. and their years of experience buying and selling property can give you piece of mine on things that you would need to have in hand prior to filling out a loan application. Here are some important documents that you and your family would need to have ready to go in order to have a smooth loan application process from start to finish. Please note that the loan application cannot be approved without these (and other potential required) documents for all parties that will be on the loan.
- W-2s from the last two fiscal years and/or tax returns from last 2 years
- Most current pay stub showing year to date income
- Latest three (3) months of bank statements
- A list of all current debts (including names, accounts numbers, addresses, monthly payments, and balances owed)
- Information on any and all other real estate owned, including loan information, if applicable
- Landlord’s name and address to send rental verification if renting
- Employer’s name and address to send employment verification
- Copy of driver’s license or other photo identification
- Divorce decree, if divorced.
- If self employed, last 2 years tax returns with schedules, year-to-date (YTD) income statement, & a current Balance Sheet
- Copy of closing statement if you have recently sold a home
- Purchase and sale agreement on new home you are purchasing. (Realtor will provide)
- Check for appraisal and credit report. (Lender will provide amount. Usually approx. $500.00)
It is important to note that the lender may require additional documents above and beyond the list that is presented here. You will need to provide additional documentation as required per the lender if requested to do so in order to continue or receive a decision on the loan applied for. Not all items presented above will apply to your situation and is subject to change per underwriting guidelines established by the funding source.
For specific information on Non-Residential Alien loan requirements, please CLICK HERE (opens in a new window).