Home Buying Resources
Buying a home is one of the largest financial decisions many people will make.
Our Home Buying Resources section helps simplify the mortgage and homeownership process.
Educational topics include:
First-Time Homebuyer Tips
- Review your credit score early
- Establish a realistic budget
- Save for upfront expenses
- Compare loan options carefully
- Understand monthly housing costs
Prepare for Homeownership
Understanding the home buying process can help reduce stress and improve confidence during every step of purchasing a home.
Mortgage Application Tips
Applying for a mortgage is an important step toward homeownership, and being prepared can help make the process smoother and faster. Providing complete and accurate documentation early in the application process can help avoid delays and keep your loan moving forward efficiently.
Documents Commonly Requested for Mortgage Approval
To help process your mortgage application, you may be asked to provide the following documentation:
- Pay stubs covering the most recent 30 days
- W-2 forms from the past two years
- Bank statements from the most recent two months (including all pages)
- Recent transaction summaries for 401(k), IRA, or mutual fund accounts
- Copies of stocks or certificates of deposit
- Copy of the purchase and sales agreement
- Twelve months of cancelled rent checks or your current landlord’s name and address (if applicable)
- Fully executed divorce decree (if applicable)
- Copies of your deed, homeowner’s insurance policy, and most recent property tax bill if refinancing
- A written explanation for any known credit issues or significant income changes
Additional Documentation for Self-Employed Borrowers
If you are self-employed, paid by commission, or own rental property, additional documentation may be required, including:
- Signed personal federal income tax returns for the past two years, including all schedules
- Corporate tax returns for the past two years (if self-employed through a corporation)
- Year-to-date profit and loss statement
- Current balance sheet
- Documentation related to rental income properties
If additional information or documents are requested during the loan process, please provide them as quickly as possible to help avoid delays in approval or closing.
Review All Loan Disclosures Carefully
Take time to read all disclosures and loan documents thoroughly. If you have questions, ask your loan officer for clarification as early as possible.
Keep Communication Clear
Whenever possible, provide requested information and communicate questions or updates in writing to help maintain accurate records throughout the loan process.
Report Income Consistently
Be sure the income listed on your mortgage application matches the income reported on your tax documents and supporting financial records.
Discuss Past Credit Issues
Inform your loan officer about any past credit concerns, late payments, collections, or income fluctuations upfront. Transparency helps prevent surprises during underwriting.
Review Your Credit Report
Carefully review your credit report for accuracy before applying for a mortgage. Correcting errors early may improve your loan experience.
Avoid Opening New Credit Accounts
Before your loan closes, avoid applying for new credit cards, loans, or financing unless you first speak with your loan officer or loan processor.
Sign Documents Exactly as Required
When signing closing documents, sign your name exactly as it appears on the paperwork, including middle names or initials if required.
Preparing for a Smoother Mortgage Process
Being organized and responsive throughout the mortgage application process can help reduce stress and improve your overall experience. Eastex Credit Union is here to guide you every step of the way and help make your path to homeownership as smooth as possible.
Home Buying Resources
Application Tips
Mortgage Checklist
Mortgage Glossary
Mortgage Calculator
Types of Mortgage Loans
Home Purchase Basics
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