What documentation should I gather?

Your lender may ask for many different items, but in general, be prepared to show all of the following:

• Income verification (Last two years' tax returns, and your last two pay stubs)
• Drivers' license and Social Security card (or alternative ID)
• Bank statements
• Proof of funds to close (and an explanation of where they came from, if it's not obvious)
• If some or all of your down payment is coming from a gift, you will need  gift letter from the source of the funds that confirm they are gift, not a loan.