Home Loan

Buying a home can be one of the most dream moments in life for family, because we will know that we are going live with family forever and also Buying a home can be a stressful moments of your life. Because if you buy home first time then you are not aware about the process of buying home and process of home loan in USA

Bank will ask you paperwork for your mortgage application from that then can confirm that how much money you make or earn and your debts or loan you have The exact forms you need for a home loan depend on your situation.

Example, someone who is self-employed will likely have to provide different forms and application than someone who is employed by a company. Paper will be different as per your profession

Once you are ready to apply for the home loan then there are some documents you need to start gathering. Since every situation is unique, the exact documents you’ll need may vary. You’re likely to need:

• ID and Social Security number
• Pay stubs
• Federal tax returns
• W-2s or I-9s from

• Recent bank statements
• Proof of any other sources of income
• Real estate property information
• Details on long term debts such as car or student loans
• Credit card details
• Renting history

ID and Social Security number

You will need to provide your photo ID, like as a driver’s license or any government provided ID proof. This is simply to prove that you are who you’re claiming to be

Pay stubs

You may need to submit last month pay stubs, A pay stub also known as a check stub, it is part of a paycheck

Federal tax returns

Lenders may want to see one to two years’ worth of tax returns, You will need to provide Federal tax returns also you will l probably need to sign a Form 4506 T, which allows the lender to request a copy of your tax returns from the IRS.

Recent bank statements

You have to provide bank statement as per bank request it may be they ask 6 month to 3 years bank statement its depend on lender what the ask

Proof of any other sources of income

If you have income from other source like bank interest, rent or if any the you have to submit that income proof f that source

Real estate property information

Buyer need to provide all details information about property including all legal documents so lender can check all legal aspect of same property

Details on any debts

If you have already taken any loan from bank or any lenders then you must have to provide all details of that loan including repayment or EMI schedule if already you have closed this loan then you provide no dues certificate to the lender.

>>>>>>Who can take a loan<<<<<< 

Credit card details

If you are using credit card then you may provide all credit card details to lender if you have any emi going on then also provide all information to lender

Renting history

If you don’t already own a home and living on rent base then lender may will request you for proof that you pay rent on time, your renting history is important if you don’t have an extensive credit history

Note : do not depend on above information because above information we have given based on after search several pages, for getting real information please visit at your nearest bank or lender, may be above information do not match in some lender or bank