Purchasing a Home in Hawaii?
Are you considering purchasing a home in Hawaii? Have you heard that you need to submit certain documents to a lender when you want to start the pre-approval process? Hi, I’m Fawn Bertram with Homes By Fawn and Hawaii Life Real Estate. Today, I have a special guest with me, Stephanie Safholm with Bayview Residential Brokerage. Stephanie, what documents are required to start the loan process?
What Documents are Required to Start the Loan Process?
Stephanie: Hi everybody! Yes, it is true that you need to turn in documents in order to do a loan. Luckily, with a VA loan, there are fewer documents than other loans. When we first talk, we will go over all of the items necessary to complete your VA home loan. Submitting documents so we can verify your information is part of the home buying process. It is important that you have access to these documents so please remember not to pack them in your household goods if you are moving to Hawaii!! Many of these documents you can retrieve electronically and send them to me via my secure file share, but others might be stashed somewhere and you need to have them in one place so you can access them for your loan.
The Documents we usually need are:
- Copies of your unexpired Drivers License
- Your most current 30-day paystub or LES
- Your most recent 2 years W-2s
- The last 2 months of asset account statements for all of your accounts (asset accounts are bank accounts, TSP accounts, stock accounts)
- Most recent 2 years of federal tax returns. For VA loans we usually don’t need tax returns, but for some situations we do. So keep those last 2 years on hand.
- Divorce Decree or Child Support order- this is hands down, the document that is difficult to find. Even if your prior divorce was 20 years ago, we may need that Divorce Decree. If you are having trouble finding it, let me know in the pre-approval process and I can help you figure out how to get it from the county.
- If you are active duty, We will also need a -A Statement of Service. This is a document you can get from your COs office showing your NEW Hawaii pay.
- Lastly, if you are selling any big items, like a car, before you move and will be depositing that money in the bank, please keep those receipts of the sale of those items.
Depending on your unique financial situation, there may be other documents, but those are the basics. I’m always here to guide you through the process!
Thank you Stephanie, that is valuable information. As a military spouse myself and many PCS moves, I always kept copies of our important documents with us in our huge white binder. Now, I would upload these documents to my drive or a flash drive. If you would like our VA Loan Document Checklist, please click here.
P.S. Don’t forget, don’t pack the flash or documents in your household good.
Do you have additional questions? Please feel free to reach out. We can’t wait to hear from you. Fawn Bertram with Homes by Fawn. We’re here to provide you with a smarter approach to real estate. Make it a great home buying and selling day.