Preparing Your Paperwork To Buy A Home In Florida
Are you considering the purchase of a new home in Florida? If so, you are going to want to make sure that you have all of your ducks in a row first. You will need to gather all the necessary paperwork it will take to show proof that you are qualified to buy a home. Below are a few things that you will need to have prepared before you enlist a mortgage company. The more prepared you are, the better your chances are of being approved. Aside from good credit of course.
1. W-2 Forms. The mortgage company will want to see a minimum of two years of tax returns. This doesn’t mean your tax returns from a few years ago. It means your two most recent tax returns. So have copies made for each of those returns.
2. Proof Of Income. You will have to prove to the bank that you can afford to pay for the home if they approve your loan. You can do this by providing several current paycheck stubs or some other type of payroll direct deposit receipt. They will also ask you for several months or more of recent bank statements. If you don’t receive your bank statements in the mail, you will need to obtain those from your financial institution.
3. Proof Of Other Income. If you receive any other type of income, you will need to show proof of that as well. Do you have stocks, bonds, mutual funds or perhaps a retirement income? If so, you should prepare hard copies of those to give to the bank even if you have already provided digital copies. Most banks will want to keep hard copies in addition to the digital copies.
4. The bank or mortgage company will ask you to supply them with a copy of your driver’s license. The bank or one of their representatives will need to see your physical drivers license as well. Supplying them with a copy without showing them proof of the actual license will not suffice.
5. You will also need to submit a copy of your earnest money check to your lender. This will be filed as proof of the earnest money funds along with the other paperwork for the closing on your home.
Once the bank or mortgage company receives all of the required documentation, they will then begin the preliminary stages of preparing your loan for approval. The documentation process of buying a home is quite extensive. You should talk to your realtor if there’s anything you don’t understand or don’t agree with. Your Florida realtor will do everything in their power to make sure the process goes as smoothly as possible from start to finish.
Are you tired of scouring the newspaper and MLS listing sites looking for homes in Florida? Tired of playing telephone tag with Realtors only to hear the home’s already sold? Sit back, relax and let Bold Real Estate Group and our team of professional Realtors do the work for you! Just visit our website and check off the properties and communities you’re looking for www.BoldRealEstateGroup.com is FREE and there’s no obligation! or send us an email firstname.lastname@example.org for additional information on all the real estate services we offer.
Author Millie Gil: I have been in the real estate service business in Florida for many successful years and will be here for many more. This longevity and confidence comes from my residential lending and real estate services to great buyers and sellers, and their recommendations to others that result in repeat and referral business that keeps me productive and successful.
Doing real estate relocation is also a passion, by assisting transferees with every residential or commercial real estate need. I know that “Relocations occur for business reasons, but more often they succeed because of a combination of family needs that are met”. My commitment to my clients is that I work diligently and quickly to produce results.
As a full service Broker-Owner of Bold Real Estate Group in Stuart Florida. I assist buyers, sellers, renters and investors in real estate transactions spanning all of the price ranges and property types. I am fluent in English and Spanish with a strong network of real estate professionals worldwide.