Come prepared for your buyer’s consultation with this 7-step checklist!

1. Personal Identification

   1. A valid government-issued photo ID (e.g., driver's license or passport).

   2. Social Security Number or Tax Identification Number (TIN).
      

2. Proof of Income

   1. Recent pay stub (last 30 days).

   2. W-2 or 1099 forms from the past two years.

   3. Proof of additional income, if applicable (e.g., bonuses, alimony, child support.) If self-employed:

      • Recent tax returns (at least two years).

      • Profit and loss statements.

      • Balance sheets.

      • Proof of assets:

        • Bank statements (checking, savings) from the past 60-90 days.

        • Retirement account statements (e.g., 401(k), IRA).

        • Other investment account statements.

        • Credit history.
          

3. Employment Verification

   1. Recent employment verification letter or contact details for someone who can verify your employment.

   2. If you've changed jobs recently, offer letters or employment contracts might be required.

   3. Personal debt information.
      

4. List of all debts including credit card debts, student loans, auto loans, and any other outstanding obligations.

   1. Monthly expenses and obligations.

   2. Rental history (if applicable).

   3. Contact information for previous landlords.

   4. If you've been a good tenant, a letter of recommendation from past landlords can be helpful.
      

5. Down Payment

   1. Proof of funds for the down payment. This could be bank statements showing the amount saved or documentation for a gift if someone is helping you with the down payment.

   2. Other documentation.

   3. If you've experienced bankruptcy or foreclosure in the past, be prepared to provide related documentation and details.

   4. If you've received financial help (e.g., a gift from family members), you might need a gift letter to confirm that the money is not a loan.
      

6. Property Details

   1. If you already have a specific property in mind, bring the details or listing information.

   2. Personal Letter

      • Though not always required, a personal letter explaining any discrepancies in your application or expressing why you're buying can sometimes make a difference, especially in competitive markets.
        

7. Questions for the Lender

   1. Prepare a list of questions you might have about the pre-approval process, interest rates, loan types, and any other mortgage-related topics.

      • Always remember that the specific documents and details required can vary based on your personal situation and the policies of the lender. It's always a good idea to contact the lender or mortgage broker in advance to confirm what you'll need to bring your consultation.

      • The lender will typically run a credit check, but it's a good idea to review your credit report in advance to ensure accuracy. Obtain a free copy from a major credit bureau or through services.

Questions about the home buying process? Contact me!