To make sure you’re ready for what the process entails, here are 5 major milestones of the loan process.
Most current pay stub showing at least 30 days of year to date income
Past two years’ W2s
Two years of personal tax returns
Bank, investment or retirement account statements covering the past two months (all pages)
Current homeowners insurance declaration page
Most recent mortgage statement
If ever divorced, a complete divorce decree and separation agreement
If ever declared bankrupt, complete bankruptcy papers
Credit explanation letter for any recent or significant derogatory credit issues
Inquiry explanation letter if you’ve applied for any forms of credit in the past 90 days
This process often seems overwhelming, especially for first time home buyers. But if you’re working with a skilled team like our Skyline loan officers, it doesn’t have to be.