In order to be approved for a home loan, you will need to provide information on your employment and income. If you collect a paycheck, you will be required to show your W-2 forms from the previous two years. In addition, you’ll be asked to show your most recent pay stub to show that you are still employed and are making at least the same, if not more, amount of money. If you own your own business, you will need to provide a profit and loss statement or 1099 forms. You will also be asked to provide your most recent federal tax return, and possibly the last two years’ tax returns. The lender needs to make sure you can afford your monthly mortgage payments.
Depending on your unique financial situation, additional documentation may be required for your loan application. Talk to a professional mortgage lender to learn more. As your premier real estate agent at the Lake of the Ozarks, I can recommended lenders that I've worked with in the past. For all your home buying needs, trust Eagle's Nest Realty!