Start Gathering these Documents Now for a Home Mortgage in North Georgia
Finding a home you want to buy in North Georgia is easy! The mortgage paperwork…not so much! Unfortunately, though, it must be done to purchase a home! If you have a mortgage lender in mind, it is a good idea to start this process as soon as you know you want to buy a home. If you don’t have a preferred lender, your Realtor can recommend a local mortgage lender that they have worked with and trust.
To get the home buying process started, your lender will check your credit report and determine an approximate loan approval amount for a basic pre-qualification letter. A full loan approval, however, will require paperwork, documentation…and more paperwork…and more documentation.
Your home loan is contingent on this important documentation, so it’s a good idea to start gathering these files now in a folder on your computer, so that it isn’t overwhelming all at once when your underwriter needs them emailed to them.
These are some of the documents you will need for your home loan in North Georgia:
Income Verification
- Most recent pay stubs for the last 30 to 60 days
- Tax Returns for the past 2 years – including W-2 forms as well as 1099 forms
Asset Verification
- Most recent 2 months bank statements including all pages – even blank ones
- Most recent retirement and investment statements
Credit Report
- Your lender will run your credit report to determine your credit score for your mortgage approval
- Photo ID
Property Owners
- Documentation of each property owned, including the most recent mortgage statement and the declaration page of the homeowner’s insurance policy
Renters
- Current rental agreement
Business Owners
- Full tax returns for the past 2 years
Relocation for a Job
- A copy of your employment offer letter
Home Sale Contingencies
- A copy of your executed purchase contract
Veterans
- VA eligibility voucher
The next step after pre-qualifying, is to solidify your North Georgia home mortgage by seeking full loan pre-approval. Benefits include a stronger hand in a bidding situation as well as advance knowledge of mortgage approval before you spend money for inspections and appraisals.
Contact the team at Southern Select Properties today to get pre-qualified and pre-approved to buy a home or land in North Georgia. We would love to help you with the home buying process in North Georgia.
