Paperwork Needed for Purchase in Garland, TX

Paperwork Needed for Your Loan Purchase with Garland Mortgages

At Garland Mortgages, we aim to streamline the loan application process by ensuring you're prepared with the necessary documentation. Below is a detailed guide outlining the paperwork required for your loan purchase:

For All Borrowers:

• Identification Documents: A government-issued photo ID such as a driver's license or passport.

• Proof of Income:

  • W-2 Forms: Copies of your W-2 forms for the past two years.

  • Pay Stubs: Recent pay stubs covering a 30-day period.

  • Tax Returns: Federal tax returns for the past two years (if self-employed or for additional income sources).

  • Proof of Additional Income: Documentation for additional income sources like bonuses, alimony, or investments.

• Asset Information:

  • Bank Statements: Statements for checking, savings, and investment accounts for the past two months.

  • Retirement Accounts: Statements for any retirement accounts (401(k), IRA, etc.).

• Employment Verification: Contact information for your employer(s) for verification purposes.

For Specific Loan Types:

• Conventional Loans:

  • Proof of Funds: Documentation for down payment and closing costs.

  • Gift Letter: If a portion of the down payment is a gift, a signed gift letter may be required.

• FHA Loans:

  • Credit Explanation: If applicable, an explanation for any credit issues.

  • FHA Appraisal: The property will need to meet specific FHA requirements.

• VA Loans:

  • Certificate of Eligibility (COE): For eligible veterans, the COE is required.

  • DD-214 Form: For veterans separated from service.

• Investment Property Loans:

  • Rental Agreements: Documentation for existing rental properties.

  • Income and Expense Statements: Details regarding the income and expenses of the investment property.

Next Steps After Gathering Documents:

Once you've gathered the necessary paperwork, reach out to our team at Garland Mortgages. We'll review your documentation, guide you through any additional requirements specific to your loan, and assist you in completing the loan application process.

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Ready to begin your loan purchase journey? Contact Garland Mortgages today! Our team is here to provide guidance and support, ensuring a smooth and efficient loan application process tailored to your needs.

Garland Mortgages - Simplifying Your Loan Process

Disclaimer: loan terms and requirements can vary. We recommend discussing your specific situation with our experts for personalized guidance.