Get your ducks in a row before you buy a new NOVA home

First time buyer? Moving up? Downsizing?  Here’s a handy list of items that may be required by your lender. Don’t wait until the last minute, in order to have a strong, competitive offer and smooooooth closing, get started today.

 

 

Mortgage Application Purchase Checklist

 

Our goal at AGC is to help facilitate a smooth transaction for each and every one of our Northern Virginia clients. Having correct and complete information upfront to your lender is key to a stress-free home purchase. This checklist will help you prepare so that we and your lender can serve you more efficiently.

 

Personal Identification

¨  Legible copy of drivers license or passport

¨  Legible copy of Resident Alien Card if not a US Citizen

 

Present Property

¨  Copy of the ratified contract and all addenda for present home if you are selling

¨  Copy  of lease for present home if you are going to rent out your present property

¨  Copy of listing if home is not sold as of yet

¨  Name and address of landlord if currently renting present residence

 

Employment & Income

¨  W-2s or 1099s for the past 2 years

¨  Most recent pay stubs covering 30 days of employment (must include employers name and year-to- date income)

¨  If self-employed or you have rental, commission or other variable income  — 2 years signed federal tax returns

¨  If self-employed – year-to-date profit and loss statement if returns do not cover the previous quarter

¨  Federal Corporate or Partnership tax returns for entities owned

¨  Diploma or transcript if full-time student during past 2 years

¨  Leases for current rental properties owned

¨  Divorce decree and evidence of 12 months proof of receipt of payments for child support/alimony (only needed if you desire to use this income to qualify)

¨  For retirement or social security income – a copy of the latest annual disbursement/distribution statement and most recent 2 year 1099 statements

 

Assets & Liabilities

¨  Statements coverings transactions for the past 2 months for all bank, stock and retirement accounts (one statement if it covers a quarterly period)

¨  If liquidating stocks to complete transaction, proof of liquidation must be supplied as well as evidence of deposit of funds into a liquid account

¨  Name and address for any private mortgage or loans outstanding

¨  Account information (balances/monthly payments) for all credit card, auto loans, mortgages and other loans

¨  Copy of ratified divorce decree or separation agreement for alimony or child support owed

 

Home You Are Purchasing

¨  Ratified contract and all addenda

¨  Copy of listing

¨  Front & back of cleared check used for deposit on home you are purchasing

¨  Credit card authorization form for appraisal and credit report payment (provided by lender)

¨  Contact information for title company and homeowners insurance agent

 

Looking to move in or sell in the next 6 months?  Don’t know quite where to start the home selling/buying process? Whether you’re looking to purchase a new home here in NOVA or relocate to a new area, Ask Gina & Company can help you get settled and organized, all in a professional, calm, efficient process that fits personally to your lifestyle! Just Ask Gina today! 703-574-3478

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