What Documents Do You Need for a North Georgia Loan Approval?
If you’ve been dreaming of buying a home in North Georgia, now is the time. With interest rates on the rise, getting pre-approved to buy a home now is a savvy choice. The sooner you get pre-approved for your North Georgia home purchase, the sooner the team at Southern Select Properties can help you find the home you’ve been dreaming of.
To get the home buying process started, you will need to choose a Realtor and a lender. 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.
In addition to showing you homes and guiding you through the home buying process, your North Georgia Realtor can recommend a local mortgage lender that they have worked with and trust. Together your team can be a valuable resource during your home purchase from finding a home to closing day.
Required Documents for a Home Mortgage Approval in Georgia
When applying for a home mortgage, there are several important documents required by your lender. These documents are so important that your home loan is actually contingent on this documentation. Gathering these files in advance and having them ready to present to your mortgage lender will prevent you from being so overwhelmed when your underwriter needs to have them.
These are some of the documents you will need for your North Georgia home loan.
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
Once you have pre-qualified, the next step is to obtain full loan pre-approval. This will give you an upper hand during any bidding wars as well as knowing your exact approval amount to save time looking for homes and money paying for inspections and appraisals.
Southern Select Properties Can Help You Buy a North Georgia Home
Contact the team at Southern Select Properties today to get started on your path to home ownership. We can show you all of the available homes for sale and direct you to a trusted mortgage lender to get pre-qualified and pre-approved to buy a home or land in North Georgia. We would love to help you buy a home in beautiful North Georgia.
