Below is the list of documents you need to apply for a Purchase loan:
Home Loan Timeframe:
- May take up to 4 weeks, with a possibility of finishing in just 2 weeks.
Home Loan Closing Costs:
- Closing costs range between 0 and 3% of the loan amount
- No cost option may be available
Documents needed for Purchase Loan:
- Purchase Agreement & Earnest Money Deposit Receipt
- W-2 for the previous 2 years
- Paystubs covering 30-day period
- 3 most recent bank statements on all depository accounts
- Homeowners' insurance information (agent's name and phone number or Insurance Declarations page)
- Personal tax returns for the previous 2 years
- Landlord information of all residences within the past 2 years
Self-Employed Borrowers only:
- Business tax returns for the previous 2 years
- Business Licenses covering a 2-year period
- Year-to-date profit and loss statement (P&L)
If Applicable:
- Final divorce decree
- Proof of child support receipt and continuance
- Full bankruptcy filing
- Bankruptcy discharge
- Copy of a Green Card
- Copy of SSN card
- Disability Award Letter
- SSI Award Letters
- Pension Award and Continuance Letters
