Buying your first home is a big stepping stone in your life and Neighborhood Loans is here to help make sure it doesn’t turn into a stumbling block. As with any other home owner, we want to make sure you know as much as possible before you enter the housing market and we’ll be with you ever step of the way.
Additionally, we can help you get pre-approved before you begin house hunting. Pre-approval is a major green flag to home sellers that you’re ready and able to buy a home. When you set up a meeting with us, please bring the following pieces of documentation with you to make the process as swift and efficient as possible:
- Personal and/or business bank account numbers, your bank’s address, checking and savings account statements for the previous 2-3 months
- Pay stubs, W2 withholding forms, tax returns for two years and/or other proof of employment as well as income verification
- Credit card bills for the past few billing periods or check receipts for rent and/or utility bill payments to show payment history and the amount of revolving debt you have
- Information on other consumer debt such as car loans, furniture loans, student loans and retail credit cards
- Balance sheets and tax returns (if self-employed)
- Gift letters (if you are using a gift from a parent or relative or other organization to help pay the down payment and/or closing costs). Clarification that the money is a gift that does not require repayment
To complete the 1003 Mortgage Application you will need to gather the following: purchase contract for the house (if you have one)
With Neighborhood Loans handling your pre-approval, you’ll be combing through the housing market in no time at all.