Home Buying Guide - Page 16

Home Buying Guide Loan Application Pay Stubs • Most recent pay stub for each applicant. Tax Information • W2s for the past 2 years for salaried and hourly income. • Complete federal tax returns for the past 2 years (including W2s, 1099s and all schedules) for commissioned, bonus, or 1099 income. • If self-employed, the above plus corporate or partnership returns including K-1s for the past 2 years and a year-to-date profit and loss statement will be required. Assets • 2 most recent statements (at minimum) for all accounts (all pages). If these are unavailable, your financial institution can provide a printout with a signature, title, and date from the person completing the printouts. • The most recent quarterly statements.  If there are any large (other than payroll) deposits on any statements, please bring documentation on the source of funds for the deposits. VA Loans • DD214 (discharge papers). • Original certificate of eligibility (green form). Divorce • All pages of final, recorded divorce decree. Child Support • Child support payments may be used for qualification.  Provide the divorce decree or court order indicating amount of support due to be received (proof of receipt is required). Bankruptcy • Petition. • Schedule of liabilities. • Discharge papers. • Letter of explanation. What to do After You Have a Signed Purchase Agreement • Call your home mortgage consultant about locking in an interest rate, signing a lock-in agreement, and obtaining a new “Good Faith Estimate.” • Contact an insurance agent and arrange to have a homeowners insurance binder prepared. • Pay insurance agent for 1-year premium. ©2018 BHH Affiliates, LLC.  An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC.  Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc. ®   Equal Housing Opportunity.