Step 2
The mortgage application shouldn't be scary. Understand the important documents needed to apply for a mortgage, and it may. PLB Lending will walk you through the process of what you will need to apply for a mortgage.
Applying for a mortgage for the first time can be intimidating and sometimes overwhelming. But if you have all the right documents prepared ahead of time, it will make the process go much smoother and faster.
- Documents you will need:
- The signed purchase agreement
- Copies of your W-2 forms for past 2 years
- Proof of income (original pay stubs or two years' worth of tax returns if Self Employed)
- Proof of assets (bank statements, investment statements, etc.) to show you have money for your first down payment and additional funds for closing costs, if necessary
- Copy of the earnest money deposit
- Get a Quote for homeowners insurance; you will need this to close on your home
Gathering this information will be worth it when it comes time to close your loan. Not everyone will be able to document everything and that's ok.