Written by Wena Roeloffze I REALTOR, Lifestyle Expert and TV Host for The American Dream TV I Realty Club 74 I Brokeraged by Coldwell Banker Realty

Buying a home comes with some paperwork preparation. I know it sounds daunting, but it’s really simple and easy. Below you will find some general information you need to have on hand. This information is for each applicant/borrower.

You can apply to as many mortgage lenders as you want without any negative effect on your credit score, as long as you do so within 45 days.

Whether you are just starting the process of seeing how much you qualify for or whether you are ready to purchase, get these documents ready:

-          Your current residence address. If you have not lived at your current residence for 2 years, provide the address of the residence(s) you lived in previously to cover 2 full years;

-          Social security number;

-          Driver’s license or State ID card;

-          Employment history for the past 2 years. provide your employer’s name, address and telephone number;

-          Income information to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income;

-          Paystubs for the last 30 days that include your year-to-date earnings;

-          Last 2 years’ W-2 forms;

-          If you are self-employed or you own more than 25% of a business: last 2 years’ personal and business tax returns including all schedules and K-1’s;

-          All pages of the most recent 2 months’ bank account statements for your checking, savings, IRA, 401(k)’s;

-          If you own real estate, provide the address, current market value, the amount you owe, what your PITI payment is and if you receive any rental income;

-          Current debts: provide the name of the creditor, account number, current balance owing and your monthly payment.

Additional documentation may apply in your unique situation and will also depend on which mortgage lender you work with. The list is based on our experience from working in the real estate industry to get you started with your preparation.

Now that you prepared your paperwork, let’s get you set up with a great lender. Go here to download your free buyer guide. In this guide there is a list of mortgage lenders we work with and can highly recommend to give you great service and assistance.

Get in contact with questions you may have. Let’s work together and make your home purchase journey enjoyable and fun!