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:
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 lets us know how much money you make each month.
To verify your credit history and other information, we need to know who you are. 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:
- Bank statements for each of your accounts
- Investment account statements
- Your W-2s from the last two years
- Pay stubs that show your year-to-date income
- Any other proof of income (alimony, bonuses, etc.)
- Your tax returns from the past two years
- Driver’s license
- Social security number
You may also need these documents if the situations are applicable:
- Renting history (if credit history is not extensive enough)
- Gift letter (only if a family member/friend has gifted you money that you’re using to buy your home)
- Self-employment paperwork (if you are self-employed)
- Statement of explanation of any blemishes on your credit
Once you have these documents ready, 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 can make an offer on the house of your dreams!