Buying a house takes a lot of paperwork. It can
sometimes be a little confusing. The lender will need you to provide
documentation of your employment, income, debts, savings and down
payment money. You may need to submit your tax returns, paycheck
stubs, checking and savings account statements, investment records
and a copy of the home purchase contract.
After applying for a mortgage, the lender is required
to provide you with certain disclosures. The most important document
is the good faith estimate of closing costs. The law says that the
lender must send it or hand it to you within three days of receiving
your mortgage application. The good faith estimate lists the fees
that will be charged in connection with the mortgage and the real
The lender and various third parties have a lot more
to do after providing you with the disclosures. There are many still
many steps to be completed in securing your mortgage.