1. Proof of income
- You will need pay stubs (showing at least 30 days)
- If you have recently started a new job, your mortgage banker may ask you to provide letter from your employer confirming your salary
2. Debt
- All of your debt – student loans, credit cards, cars and even store credit cards
3. Assets
- Cash, cars, property and basically anything that is owned that can be sold or converted into cash
4. Down payment
- While this will vary depending on what loan program you qualify for, (some loans require no down payment at all) it’s a good place for you and your mortgage banker to begin deciding what type of loan you want
5. Documentation
- Items like pay stubs, bank statements and identification documents are an important and necessary part of the mortgage process – for a complete list of needed documentation, ask your mortgage banker
Interested in taking the first steps to becoming a home owner? Check out our First Time Home Buyer's Study Guide!