Checklist For Buying A House

If you are going to be taking out mortgage financing for your home purchase, your mortgage lender is going to need certain financial documentation from you in order to issue you a preapproval letter seeking hunt for houses.

Here is the checklist for buying a house.

You can also download a free PDF copy here.

Clear scanned copy of your driver’s license. If you’re permanent resident, please copy front and back of permanent resident card.
Clear scanned copy of Social Security card or passport
Two most recent, consecutive full monthly bank statements of all your current asset accounts ( checking, savings, 401(k), IRA, stocks, bonds, retirement accounts etc.) Please be sure to include all pages at each statement even if blank or appear to contain no financial information. If statements are front and back, please flip them over and copy both sides. If statements are quarterly, please provide most recent quarterly statements, all pages. Please do not send online banking printouts of current balances or transaction histories as they will not be accepted by the lender. Only full monthly statements, all pages will be accepted.
Most recent pay stubs covering one full month for all borrowers (if applicable)
Please provide most recent two years W-2s
Please provide most recent years last two federal income tax returns with all schedules.
If you are self employed: please provide copy of business license, personal tax returns listed above and business tax returns for the two most recent years, Federal only, all pages of all schedules.
For all properties owned/mortgages held, provide all the following:current mortgage statement, copy homeowners insurance declarations page or insurance agents contact information, most recent property tax bill, if there is an age away provide statement showing of monthly dues. If you do not receive statements please request one from your HOA/property manager
If you are receiving gift funds: please complete complete a a gift letter you can download one here for free or ask your mortgage lender for a copy of one. Provide the full monthly bank statement from the gifter’s account showing ability to provide funds, copy of gift check( account number on gift check must match account number from the gift bank account)and bank statement showing gift funds deposited into the giftee’s account.
If closing escrow in a trust, provide copy of full trust with all pages.

This is checklist for buying a house. All the eyes have to be dotted and all that t’s crossed and every stone will be unturned. During the home buying process your mortgage lender might require letters of explanation about your previous job history, income or credit scores. Feel free to download these free letters of explanation templates. Use them to get the best possible financing.

(These are meant to be sample letters. Use them at your own risk, no warranties implied, we assume no liability for the use of these letters.)

Letters Of Explanation

Property listed on the market

Mortgage late explanation

Name change explanation

Address change explanation

Cosignor explanation

Late payment explanation

No new debt explanation

Profit and loss statement for the self-employed