You will need to provide specific documentation when you apply for an FHA home loan or any type of mortgage loan because a lender will have to review your financial history to decide if you qualify.
A lender will tell you what documentation and data to provide, but you should know what to expect. That way, when it comes time to look for an FHA-approved lender, you will have everything you need to start applying immediately, which will make the process faster and more efficient.
Here's some key information that you should have on-hand if you want to apply for an FHA home loan:
- Employment History
- Credit report
- Paycheck Stubs
- Social Security Card
- Last Two Tax Returns and W2s
- Bank Statements
- Investment Information
You may also have to tell your lender the types of homes and the price range you are considering. We recommend you get pre-approved for a mortgage loan as soon as possible. If you have already found a home, but have not yet gotten pre-approved, you will probably have to share the price of the home and the projected property taxes as well in order to qualify for an FHA home loan.
Interested in obtaining this type of mortgage loan? Find out more about FHA loans, here.