When buying or Refinancing a home, knowing what documents you’ll need to have in order can simplify the process.  What are the top three items you will need in order to ensure a smooth lending process?

Putting the Documents Together:

First, how are you planning to pay for the mortgage on your home? For this, we need to see recent pay stubs and the previous two years of W-2s with tax returns both personal and business along with any other additional income sources. This includes items like pension, child support, or even social security.

Second, we need to know how you’re planning to fund a down payment and closing costs – no matter how big or small. In order to do this, we require bank statements, stocks and investments, the sale of assets, or a settlement statement.

Last, but not least (as this is a big one), we need to know that you’re a credit-worthy borrower. We want to make sure that you have a history of making responsible financial decisions, and a big factor that goes into the mortgage application process is the review of your credit and payment history.

Taking the time to prepare your financial statements in advance and reading up on the home buying process will only help provide you with a smooth lending experience. We don’t want you feeling like a “quack,” so please reach out if I can be of any help!   Tonyg@atlanticbay.com or 704-778-6205.