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Financing Tips

Financing your home can be an overwhelming process if you are unsure of what you are doing. The more prepared you are ahead of meeting with a lender, the quicker and easier it will be for you to get pre-approved—ultimately facilitating the path to you acquiring your new home.

Make sure you have the following documents in hand for the pre-approval process:


Income Items

  • W2 forms from the last two years
  • Pay stubs covering a 30-day period
  • Federal tax returns (1040’s) for the past two years if you:
    • Are self-employed.
    • Earn regular income from capital gains.
    • Earn sizable interest income.
    • Earn more than 25 percent of your income from commissions or bonuses.
    • Own rental property.
    • Are in a career where you are likely to take non-reimbursed business expenses.
  • Year-to-date profit and loss statement (if self-employed)
  • Corporate or partnership tax returns (if you own more than 25 percent of the business)
  • Pension award letter (for retirees)
  • Social Security Award letters (if applicable)


Asset Items

  • Bank statements for previous two months
  • Statements for two months on all stocks, mutual funds, bonds, etc.
  • Latest 401K statement (or other retirement assets)
  • Copy of HUD1 Settlement Statement on sales of recent homes
  • Copy of estimated HUD1 settlement statement if previous home is for sale but not yet closed
  • Gift documentation (if funds come as a gift from a family member)
    • These can also require:
      • Verification of donor’s ability to make the gift
      • Copy of the check used to make gift
      • Copy of deposit receipt showing funds deposited into bank account or escrow


Credit Items

  • Landlord’s name, address and phone number (if you rent)
  • Explanations for items that may appear on your credit report including:
    • Late payments
    • Credit inquiries in last 90 days
    • Charge-offs
    • Collections
    • Judgments
    • Liens
  • Copy of bankruptcy papers (if applicable within last seven years)



  • Copy of purchase agreement (if you have made an offer)
  • Documentation of receipt of child support (if you want to show as income)
    • Copy of divorce settlement
    • Copies of 12 months canceled checks to document receipt of funds


FHA Loans

  • Copy of Social Security Card
  • Copy of driver’s license


VA Loans

  • Copy of DD214



  • Copy of most recent monthly mortgage bill