Homebuyer Resources

Mortgage stuff explained without the banker-speak. Here are the basics buyers usually need to understand before they start house hunting, make an offer, or panic-Google at midnight.

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These are the questions almost every buyer has at some point.

Pre-Approval

What Is A Mortgage Pre-Approval?

A pre-approval helps you understand what you may be able to afford before you start seriously shopping.

  • Reviews income, credit, debts, and assets
  • Helps set a realistic budget
  • Often needed before making an offer
Credit

What Credit Score Do I Need?

The answer depends on the loan program and the full strength of your file.

  • Different programs have different guidelines
  • Your debts and income matter too
  • A lower score does not always mean “no”
Down Payment

Do I Really Need 20% Down?

No. This is one of the most common mortgage myths.

  • Some programs allow low down payments
  • VA and USDA may offer 0% down options
  • 20% down can help, but it is not always required
Monthly Payment

What Goes Into My Payment?

Your mortgage payment is usually more than just principal and interest.

  • Principal and interest
  • Property taxes
  • Homeowners insurance
  • Mortgage insurance, if applicable
Closing Costs

What Are Closing Costs?

Closing costs are the fees and prepaid items needed to complete the loan and purchase.

  • Lender and third-party fees
  • Title and settlement charges
  • Prepaid taxes and insurance
Timeline

How Long Does The Process Take?

Every file is different, but clear communication and clean documentation help everything move faster.

  • Pre-approval can often start quickly
  • Contract timelines vary
  • Underwriting conditions are normal

The Homebuying Process

A simple version of what happens from “maybe I should buy a house” to “where did I put the moving boxes?”

1

Get Pre-Approved

We review your income, credit, assets, debts, and goals so you know what price range may make sense.

2

Review Your Options

We compare loan programs, estimated payments, cash-to-close, and what fits your situation best.

3

Shop With Confidence

Once you know the numbers, you can look at homes with a better understanding of your budget.

4

Make An Offer

Your real estate agent helps structure the offer, and I help make sure the financing side is ready.

5

Underwriting & Closing

The file is reviewed, final conditions are cleared, closing documents are prepared, and then it is time to sign.

How To Send Mortgage Documents Like A Pro

Getting pre-approved is a lot easier when the documents are clean, complete, and easy to read. Here is what lenders usually need, why we need it, and how to avoid the classic “please resend this” loop.

The Golden Rule: Send PDFs Whenever Possible

PDF files are usually best because they are easier to read, easier to upload, and less likely to get distorted. Screenshots, blurry photos, cropped images, and sideways pictures can slow things down because underwriting needs clear, complete documents.

If the document came from a bank, employer, IRS, Social Security Administration, mortgage servicer, or insurance company, try to download the official PDF instead of taking a screenshot.

Why Lenders Are So Picky About Documents

It is not because we enjoy making your life difficult. Underwriting has to verify income, assets, debts, identity, and loan eligibility. Missing pages, screenshots, and unclear documents create questions that usually lead to more requests.

Clean Documents = Fewer Conditions

The cleaner the documents are up front, the easier it is to review your file, issue a strong pre-approval, and avoid unnecessary delays later. A little extra effort at the beginning can save a lot of frustration during underwriting.

Bank Statements

Bank statements are used to document assets, deposits, funds needed for closing, and sometimes reserves.

  • Send the official monthly statement PDF from your bank.
  • Include all pages, even if a page is blank or says “intentionally left blank.”
  • Make sure your name, bank name, account number, and statement period are visible.
  • Do not send screenshots of your balance or transaction history unless specifically requested.
  • If there are large deposits, be prepared to explain and document where they came from.

Best practice: Log into your bank account, look for “Statements” or “Documents,” choose the correct month, and download the PDF.

Pay Stubs

Pay stubs break down earnings and provide year-to-date totals. They help document your recent income, deductions, and employer information.

  • Send your most recent pay stubs, usually covering the last 30 days.
  • If you are paid hourly, overtime, commission, bonus, or shift differential, send end-of-the-year pay stubs from December of the two previous years.
  • Make sure your name, employer, pay period, gross income, deductions, and year-to-date income are visible.
  • Do not crop off the top, bottom, or side of the page.

Best practice: Log into your employer's payroll portal and save pay stubs as .pdf files.

W-2s

A W-2 is the tax form your employer gives you after the end of the year. It summarizes what you earned from that employer and the taxes withheld for that year.

  • W-2s are not the same thing as pay stubs. The show total earnings, but do not provide a breakdown.
  • W-2s are usually needed to show prior-year employment income and verify length of employment.
  • If you worked for more than one employer during the year, then W-2s are needed from each employer.

Hint: If you are having trouble locating a W-2, then transcripts can be obtained online through the IRS website under "Wage & Income Transcripts".

Tax Returns

A tax return is the full return filed with the IRS. This is different from a W-2. Tax returns may be needed if you are self-employed, own rental property, or receive certain types of income.

  • Send the complete federal tax return, not just the first page.
  • Include all schedules, statements, and K-1s if applicable.
  • Business owners may also need business tax returns.

Hint: If you are having trouble locating tax returns, then transcripts can be obtained online through the IRS website under "Return Transcripts".

Social Security Benefit Letters

Social Security benefit letters help document retirement, disability, survivor, or other Social Security income.

  • Send the most recent award letter or benefit verification letter.
  • Make sure your name and monthly benefit amount are visible.
  • If benefits are deposited into your bank account, bank statements may also be needed to show receipt.

    • Hint: You can often download a benefit verification letter online from your Social Security website.

Mortgage Statements

Mortgage statements may be needed if you currently own property, are refinancing, or have another mortgage showing on credit.

  • Send the most recent monthly mortgage statement.
  • Make sure the servicer name, payment amount, loan number, property address, and balance are visible.
  • If taxes and insurance are escrowed, the statement may help verify that too.
  • For refinances, payoff information may be requested later in the process.

Homeowners Insurance

If you are refinancing or already have a property under contract, insurance documents may be needed.

  • Send the declarations page, not just the bill.
  • Make sure the property address, coverage amount, premium, and policy period are visible.
  • For a purchase, your insurance agent may need to provide an updated binder or declarations page before closing.

Retirement, Investment, or Gift Fund Documents

If funds for closing are coming from retirement accounts, investment accounts, or a gift, extra documentation may be needed.

  • Send complete account statements with all pages.
  • For gift funds, do not move money around until we talk through the proper documentation.
  • Large transfers between accounts may need a paper trail.
  • When in doubt, ask before moving funds.

How To Scan Documents With An iPhone

You do not need a fancy scanner. Your iPhone can scan documents using the built-in Notes app.

1

Open the Notes App

Start a new note or open an existing note.

2

Tap the Paper Clip Icon

Choose “Scan Documents.” Your phone will open the camera and look for the edges of the page.

3

Scan Each Page

Lay the document flat, use good lighting, and scan every page. Yes, even the boring blank-looking pages.

4

Save and Send as a PDF

After scanning, save the document and share it as a PDF. If that doesn't work, then it is ok to send screen shots since these will be clean.

Document Do’s and Don’ts

Do This

  • Send PDFs whenever possible.
  • Send every page of each statement.
  • Make sure documents are clear, readable, and not cut off.
  • Use official statements instead of screenshots. If on your phone, click the "share" button (square icon w/ up arrow) and email it from there.
  • Keep file names simple, like “May Bank Statement” or “2024 W-2.”
  • Ask before moving large amounts of money between accounts.

Avoid This

  • Do not send screenshots of bank balances.
  • Do not crop out account names, dates, page numbers, or totals.
  • Do not send blurry, dark, sideways, or partial photos.
  • Do not skip blank pages.
  • Do not combine unrelated documents into one giant mystery file.
  • Do not deposit large undocumented funds without talking through it first.

Quick Mortgage FAQs

Because mortgage questions have a way of multiplying.

Should I get pre-approved before looking at houses?

Yes. It helps you understand your budget and makes your offer stronger when you find the right home.

Will checking my credit hurt my score?

A mortgage credit pull may have a small impact, but knowing where you stand is usually worth it before making a major purchase.

Can gift funds be used?

Often, yes. The rules depend on the loan program, source of funds, and documentation.

What should I avoid before closing?

Avoid opening new credit, making large unexplained deposits, changing jobs, or buying the furniture before the house is actually yours.

Ready To Figure Out Your Numbers?

Whether you are ready to buy or just want to know what is realistic, starting with a pre-approval is usually the cleanest next step.

Start My Pre-Approval