Planning to finance your next home?

Are you planning to finance your next home? OR are you a real estate agent who has buyers who plan to finance? With the recent financing changes, it is more important than ever to make sure that you get all of the required information to your lender ASAP so that the loan is not delayed. Here is a list of what your lender will require upfront when you apply (check with your individual lender to be sure).

Common Items Needed At Application:

•Clear copy of your photo ID

•Most recent paystub

•W2 and/or 1099 forms for 2013 and 2014

•All pages of your 2013 and 2014 Federal Income Tax Returns (1040’s)

•All pages of your last two months bank/investment statements, even if they’re blank pages or copies of checks;include a source of funds for any deposits greater than 25% of your monthly income if they are not part of your normal income

Note that individual situations vary. Your application may require more or less information