Finding a Low Country home you want to buy is easy! The mortgage paperwork is a different story! If you have a mortgage lender in mind, it is a good idea to start this process as soon as you know you want to buy a home on Hilton Head Island or Bluffton. If you don’t have a preferred lender, your Bluffton Realtor can recommend a local lender that they have worked with that they trust.
Your lender will check your credit report and determine an approximate loan approval amount for a basic pre-qualification letter within a day or so. A full loan approval, however, will require paperwork and documentation. Your home loan, as well as the amount of money you can borrow, are contingent on this important documentation, so it’s a good idea to start gathering this info now so you aren’t overwhelmed when your lender needs it.
These are some of the documents you will likely need for your home loan in SC:
Documents Needed to Verify Income
- Pay stubs for the last 30 to 60 days
- Tax Returns for the past 2 years
Documents Needed to Verify Assets
- Most recent 2 months bank statements including all pages – even blank ones
- Most recent retirement and investment statements
- Your lender will run your credit report to determine your credit score for your mortgage approval
Home Sale Contingencies
- A copy of your executed purchase contract
There may be additional forms and documentation required for your home loan approval in SC, which the Dufrene Group, your Realtor in Bluffton, can help you with. Contact us today to get your Bluffton or Hilton Head Island home buying process started. We can connect you with a lender and email you a list of homes with your criteria so you can find your dream home on Hilton Head Island.