Last 2 pay stubs

Your most recent pay stubs showing year-to-date earnings.

Last 2 years W-2s

W-2 forms from each employer for the past two tax years.

Last 2 years tax returns

Complete federal tax returns including all schedules.

Last 2 months bank statements

All pages from every account, including savings.

Government-issued photo ID

Valid driver's license or passport for identity verification.

Social Security number

Needed for the credit check and loan application.

Proof of additional income

Freelance income, rental income, alimony, child support, etc.

Gift letters if using gift funds

Written confirmation that gifted money is not a loan.

Divorce decree if applicable

Required if divorced within the last few years.

Bankruptcy papers if applicable

Discharge papers and any relevant court documents.

Credit score checked (all 3 bureaus)

Pull reports from Equifax, Experian, and TransUnion.

Credit score above 620

Minimum for most conventional loans. 740+ gets you the best rates.

DTI calculated

Debt-to-income ratio: total monthly debt payments divided by gross monthly income.

DTI below 43%

Most lenders cap at 43%. Below 36% is ideal.

Down payment saved

3.5% minimum for FHA, 5-20% for conventional loans.

Closing costs saved (2-5%)

Separate from your down payment. Budget 2-5% of the home price.

Emergency fund separate

Keep 3-6 months of expenses that you will not touch for the purchase.

No major credit changes planned

Avoid new credit cards, car loans, or large purchases until after closing.

Employment stable 2+ years

Lenders prefer consistent employment history with the same employer or field.

Get pre-approved (not pre-qualified)

Pre-approval involves a hard credit check and is much stronger than pre-qualification.

Compare 3+ lenders

Even a 0.25% rate difference can save you tens of thousands over the loan.

Lock in rate when ready

Rate locks typically last 30-60 days. Time it with your expected closing date.

Understand loan types

Conventional, FHA, VA, USDA. Each has different requirements and benefits.

Know your comfortable max payment

Not what the bank approves, but what lets you still live your life.