Qualifying for a Home Mortgage

Qualifying for a Home Mortgage 

When you are ready to start the home buying process, one of the most important steps is to begin with your home mortgage qualification. Although it may seem like an overwhelming process, your home mortgage is an essential piece to your home buying experience. Here are a few of the items you will need in order to make loan application with a qualified home mortgage consultant:

• Proof of income: you will need to provide copies of at least two consecutive paycheck stubs
• W-2 Forms: you will need to provide copies of your W-2 forms from your employer
• Tax returns: most loans require at least two years of filed tax returns
• Bank Statements: you will need to provide two months of current bank statements for all account in your name
• If you will be receiving gift money for your down payment, you will be asked to provide documentation on where the funds came from and the person gifting the money will need to write a letter confirming the gift

Qualifying for your home mortgage before you begin the home shopping process will help to create a smooth transaction – and having an approved loan before making an offer will leverage your negotiating power with the seller. If you or someone you know is considering a home purchase, please contact me today. I have access to professional, experienced home mortgage consultants who I can refer to you. Please give me a call today. Linda