Buying a house can seem like an endless sea of paperwork. To make things easier, we’ve typed up a detailed checklist of the paperwork you’ll need to gather. The more you have ready upfront, the faster things will go down the road.
For everyone
- Original pay stubs covering the most recent 30 days
- Original W-2 forms for the last two years
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Regarding your residence
- If you own a home, bring a copy of your current mortgage statements for all mortgages
- If you are renting, bring the name, address and phone number of your current landlord
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If this applies to you
- Original or current award letters for Social Security or pension income and pay stubs
- Copy of divorce decree, including property settlement
- Copy of last two years tax returns for rental properties you own, along with current rental agreements
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If you are self-employed
- Copy of your last two years federal tax returns with original signatures
- Year-to-date profit and loss statement, signed
- Current balance sheet, signed
- K-1s for all partnerships
- Copy of last two years partnership returns for general partners
- Copy of last two years 1120 returns for corporations
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Miscellaneous odds and ends
Every borrower is different. Depending on your particular situation, you may be asked to provide various other records in addition to those listed above. If you are asked to collect additional materials, be sure and add them to the rest of your paperwork.
Check, please
You’ll also need to include a check for $XXX made payable to iQ Credit Union. This money will be applied toward your credit report and closing costs. If for some reason your application is denied, a portion of the money will be refunded.
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