Pre-approval 101
Rather than play a game of Guess Who? it’s advised you get pre-approved before physically looking at properties. When it comes to buying a home, window shopping is not encouraged. Knowing how much home you can actually afford makes the process of homebuying easier and realistic. The steps below explain the basic necessities typical buyers need to get pre-approved.
Click here for an email version of the following list.
Documen-tation
Be sure to have copies of:
the last two years tax returns with W-2s,
2 paycheck stubs (or one month’s income documentation),
2 months bank statements (All pages),
legal identification,
social security number,
address,
date of birth
Ready to apply? Click here to be connected to a friendly Mortgage Banker.
Lending
Its not uncommon to not immediately attain pre-approval. If this is your reality, continue the conversation with your lender and your agent. Find out what steps and process you should take to become a better candidate for a mortgage loan. Often, buyers find minor changes, adjustments, and modifications are the key to getting pre-approved and getting into the home of their dreams.
Click here for a copy of helpful tips to building credit, saving for a down payment, and gathering necessary documents.
