June 27, 2016

Doing your homework is so important as you get ready to buy a new home in Lexington, KY and surrounding communities.

First, set an appointment with your lender. If you do not have a lender, Kay can introduce you to several lenders that will work with you to secure a loan.

The lender will do an initial evaluation of your income and credit and establish a pre approval letter for a mortgage which will be used in making an offer to buy a home.

However, the lender will require more in-depth documents about your financial history to approve a home loan.

Documents Needed for Loan Applications

1. Most recent two years federal tax returns with all schedules. (if self-employed we will also need the last two years of business returns.)

2. Most recent two years W2s and/or 1099s

3. Most recent two months bank statements (all pages)

4. Most recent paystubs covering at least 30 days

5. Recent mortgage statements from any other real estate owned.

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