Loan Application Checklist for Buyers

If you are not purchasing your Western New York home outright with cash, part of that process is obtaining a Mortgage. Since applying for your Mortgage can be confusing, we have assembled a list of all the documents you will need for your WNY home mortgage application.  Having all of this information when you initially meet with your mortgage professional will speed the process along!

You never have applied for a mortgage before. That is ok, and I can bet that you are a little unsure of the process and what will be needed to get everything done in a timely manner.  You are not the first, nor the last person we will meet that will have these questions. That is why we created this document to assist in the loan application process.

Read Also: Why Work with a Realtor®

Buying a home is not so difficult in Western New York; especially if you know what is going to happen along the way. Before you start looking at houses and falling in love with the perfect Western New York home, apply for your mortgage and at least get a pre-approval. This will allow us to ensure you are seeing WNY homes that you can afford. There is nothing more frustrating to a Buyer than to fall in love with the absolutely perfect home only discover you cannot afford it.

Read Also: What is an appraisal

EMPLOYMENT DOCUMENTATION

  • Most recent two years complete tax returns with all schedules.
  • Most recent two years W-2′s, 1099′s, etc.
  • Most recent pay stubs covering one month period. If Applicable: Self-Employed will need Two years Tax Returns and YTD Profit & Loss Statement.

SAVINGS DOCUMENTATION

  • Most recent three months complete bank statements for both checking and savings accounts.
  • Most recent statement from retirement, 401k, mutual funds, money market, stocks, etc.

CREDIT INFORMATION

  • Most recent statements from your credit cards and other monthly revolving charges, indicating minimum payments and account numbers.
  • Copy of complete Bankruptcy and Discharge Papers.
  • You may be required to provide the origin of your down payment. If money for down payment is a gift from a relative, bring to the interview a copy of gift letter and copy of gift check. The gift letter states that the money will not have to be repaid.

RENTAL INFORMATION

  • Name, Address, and Phone number of your landlord
  • 12 months canceled rent checks

PERSONAL INFORMATION (for each applicant)

  • Copy of Drivers License
  • Copy of Social Security Card
  • Copy of complete Divorce, Palimony, Alimony Papers
  • Copy of Green Card or Work visa


Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.

Thinking of selling your Erie County home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.

What about one of these homes?

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.
Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2014 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.
search-buffalo-homes buffalo-neighborhoodscontact-best-buffalo-homesbuffalo-home-values get-the-latest-listings-via-email


Blog Widget by LinkWithin

About Colleen Kulikowski, Associate Real Estate Broker (716) 650-0051

Colleen Kulikowski is an Associate Real Estate Broker with the Griffin Team @ Keller Williams Realty Buffalo Northtowns specializing in Western New York residential homes who doesn’t follow trends; she blazes new trails and is able to recognize industry trends and implement them to her client’s best interest. Colleen has created a unique following with one of the top local internet positions in the country generating thousands of leads for her team. Real Estate is a second career for Kulikowski who’s first career was in Information Technology and Data Warehousing working for such companies as Radio City Music Hall, Nabisco Foods and as a consultant in the Financial and Insurance industries. A strong background in technology and management provides her with keen analytical and sharp negotiating skills.

Comment

  • Bill

    April 23, 2009 at 10:33 pm

    I am a newbie blogger and am looking around for ideas, really like some of yours.

  • Mark Roberts

    June 4, 2009 at 11:08 am

    I always like reading your blog! Another good solid article and a great help to many people!

  • Clayton Close

    December 10, 2009 at 3:21 pm

    Hey was scanning the net and came across this blog. Thanks for the tips in selecting a loan provider!

  • Isac Mathez

    December 13, 2009 at 4:45 am

    Now I know why so many people love this site!

Comments are now closed for this article.