Home Loans In Olathe, Kansas 

With a population of over 140,000, Olathe is the fourth-largest city in Kansas. The name ‘Olathe’ is a Shawnee Indian word that translates to ‘beautiful,’ an apt description of the town. That’s why Olathe is one of the fastest-growing communities in Kansas. 

Olathe’s housing market has been quite active, so if you’re looking to buy a home here, now is an excellent time to start looking at options. The home buying process can be time-consuming and complex. One of the biggest hurdles to overcome is obtaining financing to close the deal. 

Capital Home Mortgage Olathe can help. Let’s walk you through what you need to obtain home financing. 

What Documents Do I Need To Get A Home Loan In Olathe?

When shopping for a mortgage in Olathe, you’ll need to gather the necessary documents to demonstrate your eligibility as a borrower. While each lender will usually have their specific requirements, be sure to have the following documents ready before getting the process started: 

• Identification

All borrowers must present a valid picture ID at the time of application to verify their identity. A current driver’s license or state-issued ID should satisfy this requirement.

• Social Security Card

Like a valid picture ID, a copy of the applicant’s social security card is required. Veterans and service members may use their military card or ID, which states their social security number, instead of an actual social security card.

• Proof of Income

A 30-day paycheck stub is required for all W2 employees and their last two years’ W2s. If 20% of the borrower’s income comes from commission, the previous two years’ tax returns will be required. 

Self-employed borrowers must present their last two years’ personal and business tax returns and supporting 1099s. They must also provide a year-to-date profit and loss statement. Your tax returns provide a snapshot of your financials for the last couple of years. Lenders use this document to see how their yearly earnings have fluctuated. 

• Statement of Assets 

All borrowers must show where their source of funds to close on the loan will come from, plus reserves. You will be required to provide your last two months’ bank statements for checking and/or savings. If you have retirement funds, you must provide the latest statement from your retirement account administrator, such as 401k, IRA, CD, etc.

When you have tangible assets in your name, lenders feel more confident in extending your financing. 

During the loan pre-approval stage, the lender will make a hard credit inquiry, so be ready to provide authorization for it.

Olathe, KS Mortgage Lender 

Buying a home can feel overwhelming, especially if this is your first time. Working with an experienced, knowledgeable mortgage lender like Capital Home Mortgage can make all the difference. 

From application to funding, we make all the decisions in the home loan process, allowing us to offer flexible underwriting and faster approvals. We are passionate about what we do, and we go out of our way to ensure an enjoyable home buying experience. 

Get Your Olathe Home Loan Today

Our experienced Olathe loan officers are standing by to provide clarity and insight into the entire home loan process. Let us work with you to secure the right financing for your home purchase today. 

Give us a call at (316) 261-5400 to get started.