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Commonly Asked Questions about Home Buying Legal Forms

What documents does a non-resident need to buy a home? A foreign passport, U.S. visa or drivers license. Social Security number or Individual Taxpayer Identification Number (ITIN) Financial statements from applicants foreign bank, if applicable. Evidence of financial assets/income (bank statements, etc.)
As a new homebuyer, you will want to be on the lookout for Form 1098, Mortgage Interest Statement which is used to report mortgage interest, including points. This form can help you claim these deductions on your Form 1040. Typically, Form 1098 is mailed to you in January.
10 Documents Needed to Buy a House Personal identification documents: You will need to have a valid form of ID such as a drivers license or passport. Proof of income: Financial statements: Loan documents: Purchase agreement and related contracts: Property-related documents: Deed: Settlement statement:
The closing will be handled by an escrow agent who acts as the neutral third party that holds the legal documents and funds for the buyer, seller and, at times, a lender.
Your lender can give you a checklist of the required documentation. Generally, it includes proof of your income, debts, assets, and employment. Pay stubs, tax returns, bank statements, W2 forms, and employment verifications are all proof of your ability to pay off a mortgage. Pre-approval is a fairly speedy process.
8 Requirements to Buy a House Credit. Your credit score is one of the primary factors lenders will consider when reviewing your mortgage application. Debt-to-Income (DTI) Ratio. Proof of Income. Savings for a Down Payment and Closing Costs. Documentation. Pre-Approved Mortgage. Mortgage Loan. Real Estate Agent (Probably)