Homebuyer Checklist: Documents You Will Need to Buy a Home in Alaska
When it comes to buying a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding communities, many do not know what is actually involved. From how much of a down payment you need to your credit score, numerous would-be Alaska homebuyers hold off as they do not think they will qualify.
But that shouldn't stop you this year as Madden Real Estate will walk you through everything you need, including the factors mentioned above, and these 5 documents that will be necessary to move forward with your Alaskan home purchase:
When determining your ability to take on a mortgage, your Alaska mortgage lender will want to see proof of income. In most cases, your last two pay stubs will do the trick! In others, they may want as much as two years worth, so be prepared!
Proof of debts
Lenders will also want to know how much you have in debt, including credit cards, student loans and car loans. Leaving any debts out can cause your approval to be delayed or worse, rejected.
Homebuyers are typically required to provide bank statements to their lender as part of the standard procedure. Lenders will check that all income and financial transfers were completed legally.
We have stated in the past that a pre-approval can speed things along, especially when competing with other buyers for your dream home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas. This document details how much home you can afford and proves your buying power.
Proof of insurance
After you've put an offer on a home in Alaska, you may need to provide proof of homeowner's insurance. Printed copies of the policies will do as your lender will need to keep these on file.
Do not let your previous ideas about what is required to purchase a home hold you back this year! Madden Real Estate will walk you through the entire process, from start to finish!
We even offer a Love It or Leave It Guarantee— If you buy a home through us, and you are not completely happy with with your new home, then we will list it for free while you search for a home that you love.