Scott Ellis | Loan Officer

Homeside Financial

  • Home
  • About
  • Blog
  • Resources
    • First Time Buyer Tips
    • First Time Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • Mortgage FAQ
  • Apply
    • Short Form
    • Full Application
  • Contact Us
You are here: Home / Home Buyer Tips / 5 Documents First-time Home-buyers Need for a Smoother Purchasing Process

5 Documents First-time Home-buyers Need for a Smoother Purchasing Process

April 27, 2016 by Scott Ellis

5 Documents First-time Home-buyers Need for a Smoother Purchasing ProcessWith all the work that goes into finding the kind of home you’ll want to put an offer on, it can be easy to forget about all the little things that happen after the deal has been made. While the paperwork involved in purchasing may seem like a long way off, here’s a quick review of some of the documents you’ll need when the time comes to seal the deal.

Your Credit Report

It’s important to review your credit before putting an offer in, so ensure that you request your credit report in advance and review it for any errors that may be present. If there are any discrepancies negatively impacting your credit score, you’ll be able to have them corrected before they can cause an issue with your real estate purchase.

Pay Stub Proof

In order to ascertain your ability to pay your monthly mortgage, you will need to provide pay stubs from your current place of employment. You won’t want to give away your originals, but a photocopy of your paychecks usually serves as adequate verification.

Recent Bank Statements

The number of bank statements required to prove your credit history may change depending on the lender you’re dealing with, but you’ll probably need photocopies from the last two to three months. This will be a means of proving your financial health as well as your ability to pay your monthly mortgage.

Tax Return Copies

Your federal tax returns will provide further proof of your employment and financial standing, so the last two years of these – complete with your signature – will need to be submitted. Keep in mind that any schedules you’ve filled out to complete your yearly returns should also be included.

Additional Asset Statements

In addition to recent bank statements, if you have any stocks and bonds, mutual funds, RRSPs or other investments, you should also provide statements of proof for these. While these accounts will only require your most recent statements, they will be beneficial in providing a more comprehensive picture of your finances.

There are many aspects of purchasing a home that can be time consuming, but having the documents you need beforehand can save a lot of stress when crunch time comes. If you’re planning on purchasing a home soon, contact your trusted local mortgage professional for more information.

Filed Under: Home Buyer Tips Tagged With: Buying a Home, Home Buyer Documents, Home Buyer Tips

Scott Ellis Profile Photo

Contact Scott


Mortgage Loan Officer

Call (312) 218-4141

NMLS #133371
I am licensed in Arizona, California, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee, Wisconsin.

Homeside Logo
Homeside Financial NMLS #1124061

Connect with Scott

How can we help?

  • This field is for validation purposes and should be left unchanged.

Browse Articles by Category

Recent Articles

  • The Top Home Maintenance Mistake’s You Must Avoid
  • Understanding the Principal Limit on a Reverse Mortgage and What Happens if You Reach It
  • Mortgage Shopping And Your Credit Score
  • What To Know About a 40-Year Mortgage
Equal Housing
Scott Ellis NMLS: 133371
Licensed in AZ #0950513; CA #CA-DBO133371; FL #LO38561; IL #031.0001848; IN #29673; MI #133371; MN #MN-MLO-133371; TN; WI #133371

Licensing

An Illinois Residential Mortgage Licensee, Is Regulated by the State of Illinois Department of Financial and Professional Regulation, Division of Banking located at 100 West Randolph Street 9th Floor, Chicago IL 60601, Mortgage Banking Examinations Phone 312-793-3000

Our Location


1323 Butterfield Rd.
Downers Grove, IL 60515

Copyright © 2022 · Powered by MySMARTblog