Documents for Home Purchase in U.S.

Answer

To buy a home in the U.S., you’ll need to prepare a set of documents that verify your identity, financial standing, and the terms of the transaction. While specific requirements can vary slightly by state and lender, the most commonly required documents include the following:

• Proof of identity: A valid government-issued ID such as a passport or driver’s license is necessary to verify your identity during the purchase process.
• Proof of income: This typically includes recent pay stubs, W-2 forms (or 1099s for independent contractors), and tax returns from the past two years.
• Bank statements: You’ll need to show recent statements from your checking, savings, or investment accounts to demonstrate that you have enough funds for the down payment and closing costs.
• Credit report: Lenders will pull your credit history to assess your creditworthiness. You generally don’t need to provide this yourself, but it’s a critical part of the mortgage approval process.
• Pre-approval letter: A letter from a mortgage lender stating how much you are approved to borrow, based on your financial profile.
• Purchase agreement: Once your offer is accepted, a signed purchase agreement outlines the terms and conditions of the sale.
• Title documents: During closing, you’ll receive a title report and, later, a title deed showing you as the legal owner of the property.
• Homeowners insurance: Proof of insurance is typically required before the lender will finalize the mortgage.

If you are buying property as a non-U.S. resident, you may also need to provide additional documentation, such as a visa, Individual Taxpayer Identification Number (ITIN), or proof of foreign assets. It's recommended to work closely with a real estate agent and a real estate attorney to ensure all local and legal requirements are met.