Part II: Getting Ready for Your Home Loan
Now that you have found the house that you love and put in an offer, while you wait for the answer from the sellers take some time and get some more of your financial house in order.
In order to process your home loan the lender will need some information from you. Mary Beth Henderson of Embrace Home Loans recommends getting this list together now to make the processing of your loan easier.
1. Last two years of W2s. I know you haven’t seen them since you did your taxes but it’s time to go back through your files and find them.
2. The good news is once you find the W2s it should be easy to find the second thing you will need, your last 2 years complete tax returns. If you can’t find them you can ask the IRS for a copy but that will take some time. The IRS does not charge for a copy of the last three tax years. Click here for more information
3. You will need the last 30 days paystubs or retirement award letter.
4. Annual statement from Social Security if applicable
5. 2 months of official bank statements or last statement from 401K accounts. Make sure you have all the pages of the statement.
6. Copy of your driver’s license.
Getting these few pieces of paper together will help keep the process on track and get you into your dream home faster.