A Paperwork Checklist for First-Time Homebuyers

Begin rounding up the documents you’ll need to get pre-approved.
If you are shopping for a new home, you will probably need to get a mortgage loan. If you do, the seller will most likely need a “pre-approval letter” from you before accepting an offer. They want to make sure they don’t take their house off the market for a buyer who cannot qualify for a loan.
You will need to get some basic paperwork together. It is a good idea to put this together now, so that you’re prepared. That way the pre-approval process can be fast.
Here are some of the documents, but not all, you will probably need:
  • 12 months of canceled checks (if you’ve been renting with a private landlord).
  • Three months on bank statements.
  • Two years of W2 statements and your most recent pay stub (or tax returns if self-employed).
  • Identification
It is very important that you pay your rent by check each month and that you pay it on time. Lenders will look at this as an indicator of how you will handle your mortgage with them. If you’re habitually late with your rent check, they can predict that you won’t pay them on time either.
MULJAT GROUP NORTH | 505 Front Street | Lynden WA | 360.354.4242 | muljatgroupnorth.com