Applying for a mortgage is one of the most important steps in the homebuying journey. To make the process smooth and stress-free, it’s essential to gather the right documents and information ahead of time. Whether you’re buying your first home in Dallas or moving up to your next property, here are the five things you’ll need before you apply.
1. Proof of Income
Lenders want to know that you have a steady income to support your mortgage payments. Common documents include:
- Recent pay stubs (typically the last 30 days)
- W-2 forms from the past two years
- Tax returns (if self-employed)
- Additional income statements (bonuses, commissions, rental income)
2. Employment Verification
Beyond pay stubs, lenders may contact your employer to verify your employment status. If you’re self-employed, you’ll need additional documentation such as:
- Profit and loss statements
- 1099 forms
- Bank statements showing consistent deposits
3. Credit History
Your credit score plays a major role in determining your eligibility and interest rate. Be prepared to:
- Provide authorization for a credit check
- Review and address any errors on your credit report before applying
- Understand how your score impacts loan options (FHA, Conventional, VA, etc.)
4. Assets and Bank Statements
Lenders will review your assets to confirm you can cover the down payment and closing costs. Be ready with:
- Bank statements (typically the last two months)
- Records of retirement or investment accounts
- Documentation of any large deposits or gifts
5. Identification and Personal Information
Finally, you’ll need to provide valid identification and personal details, including:
- Driver’s license or government-issued ID
- Social Security number
- Proof of residency
Final Thoughts
Getting your paperwork organized before you apply for a mortgage can help speed up approval and reduce stress. Every buyer’s situation is unique, but these five items are essential for most Dallas homebuyers.
At The Tuttle Group, we’re here to guide you every step of the way. Contact us today to start your application with confidence.
