Gather The Financials Needed For A Home Loan

You might be able to buy a home for $1,000 or less in down payment. Please call (303) 222-0027 or e-mail contact@firsttimehomebuyersdenverco.com, and we’ll send you a free list of first time home buyers loan programs.

To apply for a home loan, you’ll need to provide financial information that shows how much income you make and what assets and debt you currently have.

Typically, this is the financial information you’ll need to provide:

• W-2 forms for the last two years that show how much income you made from your employer(s)
• current pay stub
• 2 years of personal tax returns (so that the lender can compare the income on your W-2s to the income that you reported to the IRS)
• documentation for other sources of incomes (such as child support or alimony)
• 2-3 months of personal bank statements (including all of the pages of each statement)
• proof of other assets (such as stocks, bonds, 401ks, IRAs, CDs)
• letter of explanation for any money that was recently given to you as a gift
• residential addresses and/or landlord references for the past 2 years
• list of all outstanding debt (including credit cards, student loans, and car payments)

Don’t worry about providing your credit score or current credit report – your lender will pull this as part of the loan pre-qualification process.

As you move forward through the loan approval process, your mortgage broker or lender might ask you to provide additional financial information and/or clarification. Don’t be alarmed if this happens, it’s a fairly common occurrence.

Please note that if you’re self-employed, you’ll also be required to provide some or all of the following documentation:

• 2 years of business tax returns
• 2-3 months of business bank statements (including all of the pages of each statement)
• current profit and loss statement
• a written explanation for why your business income might have increased or decreased

For more on gathering your financial information to start the loan approval process, please call (303) 222-0027, or e-mail contact@firsttimehomebuyersdenverco.com.

Please note: In your free consultation, we can help you determine what loan amount will work with your budget.  We’ll offer a listing of properties based on your price range and your favorite parts of the Denver metro area.