Today I will provide the answers to the mystery of what exactly will a San Diego homebuyer need to provide to start the process of obtaining a San Diego mortgage. The documents that will show your detailed financial history include the following:
- A photo of your driver’s license
- Your social security number
- Most recent mortgage statement, property tax statement and hazard insurance declarations and, if applicable, HOA statement for any properties that you own.
- The past sixty days of asset statements for all checking and savings, 401K and stocks/bonds accounts, etc.
- Your most recent (past 30 days) pay stubs showing proof of employment.
- Your previous 2 years Federal income tax returns including all pages and schedules plus W2’s and any 1099’s.
- If you own a business, you need to supply the previous 2 year corporate tax returns.
- Any other additional sources of income including, child support, secondary job, tips, etc.
You may also be requested to provide any divorce decree. If you will be receiving a monetary gift for your down payment, a letter detailing the gift would not need to be repaid.
It’s a lot of documentation and my recommendation is always that a San Diego homebuyer gather this information prior to beginning their San Diego home search.
Why? Because knowing the amount and type of loan you are qualified to obtain (and feel comfortable with the monthly payment) will direct your San Diego home search. Being prepared for a successful San Diego home purchase is step one. And, we can help you through the entire process.
If you are anyone you know is considering becoming a San Diego homeowner and has questions that need accurate answers, call me at 619-741-0111. I’m Kim Ward, your real estate advisor. My team and I are ready to help you!