Home Purchase Basics

Congratulations on your decision to buy a new home! A home purchase may be your largest financial transaction to date, so it’s important to make the right decisions and keep an eye on the details. With the assistance of your Mortgage Team and Real Estate Agent, it should be an efficient, pleasant, and ultimately rewarding experience. There are many important things to consider throughout the process, especially if you’re a first-time homebuyer. Here’s some information that will keep you on track.

Your First Western Bank & Trust Mortgage Team Will:

Assist you in selecting the best loan to meet your personal situation and goals.
Keep you informed of your loan status throughout the entire process.
Keep your Real Estate Agent informed of our loan progress.

What you can do:

Make sure you are pre-approved as early as possible. This will help you concentrate on what is most important and that is finding the perfect home.
Keep your Real Estate Agent and Mortgage Team informed of any questions or concerns as they develop.
Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, you can comfortably concentrate on any last minute details or events that require your attention.
Enjoy purchasing your home, but do remain objective throughout to make decisions that are best for you.

Basic loan documents needed for pre-approval and approval:

List of all checking, savings and investment accounts. Include name, address and account numbers from all financial institutions along with the past two months of statements.
List all liabilities including account numbers, required minimum payments, outstanding balances and mailing address.
Complete addresses of all residences for the past two years.
Employment information for the last two years, including addresses and phone numbers.
W-2 for the past two years along with the most recent 30-day pay stub.
If self employed – last two years of complete federal tax returns including all schedules.