Required Documents to Qualify for Financing

Before visiting the bank or lender to secure financing for your home, ensure you have the following documents prepared:

1. Personal Identification

Valid government-issued photo ID (e.g., passport, driver's license).

Proof of Income

  • Recent pay stubs (last two or three).
  • Employment verification letter (stating your position, salary, and length of employment).
  • Tax returns for the past two years (especially for self-employed individuals).
  • Notices of Assessment (if applicable).

Proof of Assets

  • Bank statements from the last three months showing savings or investments.
  • Documentation of other assets (e.g., property, vehicles).

Proof of Liabilities

  • Statements for credit cards, car loans, and other debts.
  • Any existing mortgage documentation, if applicable.

Down Payment

  • Proof of funds (bank or investment account statements).
  • Signed gift letter (if using gifted funds for the down payment).

Credit History

Lenders will pull a credit report, but it’s helpful to review your own for accuracy beforehand.

Property Information (if already selected)

  • Copy of the purchase agreement.
  • MLS listing.
  • Estimated property taxes.

Additional Documentation (if applicable)

  • Divorce/separation agreements (if spousal or child support is relevant).
  • Business financial statements (for self-employed applicants).
  • Rental income documents, such as lease agreements.
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