When you apply for a mortgage to buy your first Knoxville home, there’s a lot of paperwork. Unfortunately, there is no way around it. Your lender will want to see a whole slew of documentation showing income, taxes, among many other things.
Here is a list of documentation you’ll need to apply for a mortgage:
- Two Years Worth of Tax Returns
- Two Years Worth of W-2s/1099s
- 30 Days Worth of Pay Stubs
- 60 Days Worth of All Bank Statements
- Any Large Deposits That Are Not A Paycheck May Require Documentation
It can be helpful to have all of this documentation handy when applying for a mortgage to may the process as painless and smooth as possible.
In certain cases, a lender might ask for further documentation from a borrower. Here is a list of documentation that you’re lender may possibly need:
- Divorce Decree/Marital Dissolution Agreement
- Any Bankruptcy Papers, signed along with a written explanation
- Contract/Settlement Statement For Sale of Current Home
- Non-Borrowing Spouse Pay Stubs/Tax Returns
- DD214 For A VA Loans
Are you thinking about buying your first Knoxville home for sale this year? Please let us know if there is any way Knoxville Home Team can assist you in your Knoxville home search. Rick can be reached at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be reached at 865-696-1888 or via email at Kati@KnoxvilleHomeTeam.Com. Also, be sure to check out our Knoxville Home Search Page.