In order to buy a house in Rochester, MN you need to either have the cash to purchase the house or like most people purchase homes, you need to have approved financing. Prior to start looking at homes you should get a pre-approval from a bank or lender.


What proof of Income do you need to buy a house?

  • W-2 for the last two years
  • Paystubs for the last month
  • Tax Returns for the last two years
  • Proof of any additional income

What proof of assets do you need to buy a house?

  • Bank Statements
  • Investment account statements

It’s helpful to gather all this documents that you need to buy a house before meeting with the lender. When meeting with a lender you can do it in person or online and securely submit all the documents.

What credit Scores do you need to buy a house?

Lender will check your credit score and will require your social security number. Most lenders require a credit score of 620 but you really want to be as higher as you possibly can. To get the best possible interest rates and terms most banks want to see a 760 or higher credit score.

Employment Verification

Lender will contact the employer to verify employment and income. For self employed buyers the lender will ask for significantly more paperwork to calculate the income over the past several years and ensure stability in the income among other things.

Other documentation

Lender will ask for a copy of a driver’s license or id. You will need to have a social security number

If you want to learn about the entire process of buying a house check out this guide.