Home Loans In Bowling Green, Kentucky

Bowling Green is Kentucky’s third-most populous city, behind Louisville and Lexington. As Kentucky’s fastest-growing city, the place is bursting with a dynamic economy and population, award-winning schools, affordable housing, and big-city facilities — all of which make it an excellent place to live and raise a family.

Bowling Green is currently a soft seller’s market, which means that property is in relatively high demand. Suppose you’re considering relocating to Bowling Green for whatever reason. In that case, it’d be wise to begin looking at choices now and gathering the required paperwork to avoid further delaying the mortgage application process.

Documents You Need To Get A Home Loan In Bowling Green

When shopping for a mortgage in Bowling Green, you’ll need to provide the documentation essential to establish your borrower eligibility. Though lenders often have their own set of requirements, it’s a good idea to have the necessary paperwork on hand before the process begins:

     1. Proof Of Identification

To verify their identity, all borrowers must produce a valid picture identification at the time of application. A valid driver’s license or state-issued identification card should suffice for this criterion.

     2. Social Security Card

A copy of the applicant’s social security card and a valid picture ID are required. Veterans and service members may substitute their military card or identification card for an actual social security card, which bears their social security number.

     3. Proof Of Income

All W2 employees must provide a 30-day paycheck stub in addition to their last two years’ W2s.  If 20% of the borrower’s income comes from commission, the previous two years’ tax returns will be required.

 On the other hand, self-employed borrowers must produce their most recent personal and business tax returns and other supporting documents, including a year-to-date profit and loss statement. 

Your tax returns provide an overview of your financial situation over the last few years. Lenders use this document to determine the annual earnings of borrowers and their ability to pay for the mortgage.

     4. Assets Statement

All borrowers must demonstrate where they will obtain the funds necessary to close the loan. For this, you will be asked to supply your checking and/or savings account statements for the last two months. You must submit your most recent statement, obtained from your retirement account administrator if you have retirement savings.

When you own substantial assets, lenders are more confident in granting funding to you.  

Bowling Green, Kentucky Mortgage Lender

Purchasing a home can be intimidating, even more so if it is your first time. Working with a professional, experienced mortgage lender like Capital Home Mortgage can make all the difference.

At Capital Home Mortgage, we make all decisions during the home loan process, from application to funding, which enables us to offer flexible underwriting and expedite approvals. We are passionate about what we do and will go above and beyond to ensure that you have a pleasant home buying experience.

Need A Bowling Green Home Loan? We Can Help!

Our knowledgeable Bowling Green loan professionals are standing by to answer any questions you may have about the home loan process. We’re always ready to assist you in obtaining the most appropriate financing for your new home.

To get started, call us at (270) 255-4771.