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Preparing to buy a home is exciting, but gathering the necessary documents can sometimes feel overwhelming. Having your information organized before you apply can help keep the home loan process moving and allow your lender to better understand your financial picture.

Every borrower’s situation is different, so not every item below will apply. Your Baker Boyer home loan specialist will let you know if additional documentation is needed.

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Property Information

Once you have selected a home, be prepared to provide:

• A fully signed purchase and sale agreement
• Any amendments or counteroffers signed by all parties

Employment and Income Verification

To verify your employment and income, you may need:

• Names and addresses of all employers from the past two years
• W-2 forms from the past two years
• Your most recent paystub

If you are self-employed, you may also need to provide:

• Personal and business federal tax returns, including all schedules, from the past two years
• A year-to-date profit and loss statement

You may also provide supporting documentation for other income you would like considered, including:

• Social Security
• Disability income
• Pension income
• Child support or alimony

Supporting documents may include an award letter, pension statement or documentation from the issuing agency.

Assets and Accounts

Your lender may ask for documentation showing the funds you plan to use for your down payment and closing costs, including:

• Official bank statements from the past two months
• Recent monthly or quarterly statements for stocks, bonds, certificates of deposit and other investments
• Account numbers and current market values for applicable investment accounts

If you plan to use the cash value of a life insurance policy toward your down payment, you may also need to provide the issuing company’s name, policy number, face amount, cash value and any outstanding policy loans.

Liabilities and Credit History

Be prepared to provide information about your current financial obligations, including:

• Installment loans
• Student loans
• Credit card balances
• Department store accounts
• Other outstanding debts

If you have experienced significant credit concerns within the past seven years—such as a default, bankruptcy, foreclosure or repossession—your lender may request additional documentation or an explanation.

Getting Started

Preparing these documents in advance can make the application process smoother, but you do not need to navigate it alone. Your Baker Boyer home loan specialist can help you understand which items apply to your situation and guide you through each step of the process.

For questions or additional assistance, contact our Consumer Lending team at CLC@bakerboyer.com or 509-525-2000.