First-Time Homebuyer Checklist: What You Need Before You Apply
Applying for a mortgage for the first time can feel overwhelming, but it doesn’t have to be. With the right preparation, you’ll walk into the process confident and ready. Here’s a checklist of what you’ll need to gather before submitting your loan application.
First, collect financial documents like recent pay stubs, W-2s or 1099s (when applicable), and the last two years of tax returns. You’ll also need bank statements, identification (like a driver’s license), and most recent mortgage statements for any home or property you currently own.
Next, review your credit report and work to resolve any issues in advance. Knowing your credit score will help you understand what loan options are available to you. A strong profile can also unlock better interest rates.
Finally, have a rough idea of your budget, how much you can afford for a down payment, and whether you qualify for any special loan programs.
Starting with this checklist ensures a smoother application process and shows lenders that you’re a serious, prepared buyer. Contact your Ellason Mortgage Group loan originator for more information as you prepare!
