Purchasing a new home is one of the most exciting moments in a person’s life. If you are about to sign your own home mortgage, congratulations! This is a momentous occasion. While you’ve given plenty of thought to the square footage, location and appearance of your new home, perhaps you haven’t paid as much attention to what you’ll need to actually sign the mortgage. If that is the case, don’t worry. Just follow this list and you’ll likely have most of what you may need for signing day subject to each lender’s individual underwriting criteria.
Make sure to present the following documents on or before the day of your mortgage signing:
• Your tax returns or pay stubs for the last two years
• Your monthly bank statement for the last two months
• A signed loan application
• Proof of insurance
• Signed disclosures
• A preliminary title report
• An electronic appraisal
You may also need to bring the following documents depending on your own individual circumstances.
• Your rental history, if you are renting. Usually this includes 12 months of canceled rent checks.
• A CPA letter or business license if you have been self-employed for the last two years or more.
• Any applicable gift letters regarding the down payment.
• Any letters of explanation that have been requested to clarify existing issues.
If you have questions regarding any of this information, contact your broker or mortgage professional ahead of time to ensure you have the proper materials ready before you arrive to sign.