Do yourself and all those involved with helping you purchase your dream home a gigantic favor, BE PREPARED WITH THE DOCUMENTS YOU NEED TO APPLY FOR A MORTGAGE! Here is a generic checklist:
1. Two forms of identification including a government photo ID.
2. Pay stubs for the past 30 days including year-to-date income.
3. Your most recent year's W2 form and/or most recent 1099 form.
4. Two years of your most recent signed tax return, including all schedules and all pages.
5. All pages of your most recent bank statements, including back up docs for all large deposits.
6. Gift letter if gift money is to be used.
7. All pages of any court order child support or divorce decree.
Forgive me if this post is too blunt, but I have witnessed so many delays and terminated deals from buyer's not being prepared with all the documents necessary to close on a home. It's frustrating for you and it's frustrating for the agent, loan officer, and seller. Also the amount of processing time can decrease from 45 days to as short as 32 days.
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"IT IS THE JOURNEY THAT COUNTS, NOT THE DESTINATION."
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