For first time home owners (and even veterans, too), getting ready to secure a mortgage can be a very stressful time. With all the necessary documents and statements that are needed for the process, it is very easy to forget an item or two on the checklist. To help ease the stress that comes with getting a mortgage, here are 10 essentials you absolutely need, from W2s to your driver’s license.
The 10 Essentials
- Your driver’s license for every individual involved in the mortgage.
- Secondary IDs—your social security card or passport will suffice here.
- Most recent paystubs from for a period of one month for anyone paid on a W2 salary or hourly wages.
- W2 forms from employers for past two years.
- Signed Federal tax returns (with all pages and schedules) for last two years even if you are on salary.
- Most recent bank and asset statements for a period of two months.
- A completed purchase contract for the property you are buying.
- If you are refinancing your mortgage, you will need a copy of your deed so the lender knows the property at hand.
- The name, address, and phone number of your landlord if you are currently a renter (need to verify you are a compliant tenant).
- Name, address, phone/fax number & email address for your attorney in order to coordinate the closing.
Before you head out to your closing, relieve some of those jitters and nerves by making sure you have all the items on this list. If you have any more questions about your mortgage, contact us at On Q Financial, Inc.—we’d be glad to help.