If you’re serious about buying a home, you’ll need a mortgage pre-approval. When you’re pre-approved, you can start the house-shopping process in earnest! A mortgage pre-approval will help you nail down a budget and get you one step closer to owning the home of your dreams. Here’s what we need to start your mortgage loan pre-approval process:
Credit Information
With good credit comes a higher chance of getting the loan you want! Credit history shows that you’re trustworthy and able to pay back loans.
Proof of Assets
To give you a loan, we need to know how much money you have in your bank account, investment accounts, etc.
Proof of Income/Proof of Employment
This shows us that you have a job, and it lets us know how much money you make each month.
Identification
We need to know who you are, so we can verify your credit history and other information. So, we’ll ask for a few forms of ID.
Are you ready to take action and get pre-approved? Here’s a list of the documents you’ll need to gather:
- 1Bank statements for each of your accounts
- 2Investment account statements
- 3Your W-2s from the last two years
- 4Pay stubs that show your year-to-date income
- 5Any other proof of income (alimony, bonuses, etc.)
- 6Your tax returns from the past 2 years
- 7Driver’s license
- 8Social security number
You may also need these documents, if the situations are applicable:
- 1Renting history (if credit history is not extensive enough)
- 2Gift letter (only if a family member/friend has gifted you money that you’re using to buy your home)
- 3Self-employment paperwork (if you are self-employed)
- 4Statement of explanation of any blemishes on your credit
Once you have these documents ready to go, you’re all set to get pre-approved for a mortgage! Once you apply for your pre-approval, we’ll quickly respond to you with our decision. Soon, you’ll be able to make an offer on the house of your dreams!