Your Strength as a Buyer
It is important that you demonstrate your purchasing ability to the seller of the properties you may be interested in. If you are purchasing with cash, you will be asked to provide proof of funds with your offers. Alternative to cash, you may use a mortgage pre-approval letter from your bank stating that you are qualified to purchase the home up to a specific price. If you need a loan and you are not yet qualified, we will help you get in touch with one of our recommended lenders as soon as possible. Following are examples of what is normally requested:
Documents
If You Are Employed and You Can Demonstrate Pay-Stubs:
- 1 month of pay-stubs. If you are paid twice a month, show 2.
- 2 monthly statements from your checking account(s)
- Tax return for the last year. Include all pages. Some lenders may ask for 2 years.
- All W2 and additional 1099 for the last year.
- 2 forms of ID (TX driver's license, passport, state issued ID)
- Social Security Card or ITIN
- Copies of 3 monthly bills (electric, water, gas, cable, phone)
- Copy of your current lease document / or proof of mortgage payments.
If You Are Self-Employed and You Can't Demonstrate Pay-Stubs:
- 6 months of your business checking account statements
- 6 months statements for your personal checking account
- Tax returns for the last year. Some lenders may ask for 2 years (all pages).
- All of your W2 and/or 1099 for the last year
- 2 forms of ID (TX driver's license, passport, state issued ID)
- Social Security Card or ITIN
- Copies of 3 monthly bills (electric, water, gas, cable, phone)
- Copy of your current lease document / or proof of mortgage payments.
There are other ways to qualify for a mortgage. Income from investments, higher down payments, etc. It is important for you to speak to a lender who has access to a variety of loan products that may fit your ideal situation. We will be glad to assist you in selecting a lender who fits your needs.
ACHIEVE
One Step at a Time
