Pre-qualify For Your Mortgage

Getting pre-approved through a mortgage lender is an essential first step in the home buying process. Having a pre-approval letter will let sellers know that you are a serious buyer and can aid significantly in your favor if you are in a situation where you are competing with another buyer on a home.  Getting pre-approved will also give you the best information about the price point for your budget.

The process of getting pre-approved is a very easy and painless process, however it is usually the most anxiety provoking portion of the home-buying process. To take the anxiety out of this portion of the home buying process, below is a list of what your lender will require from you to get you a pre-approval letter.

Checklist to Getting A Mortgage

  • W-2 forms — or business tax return forms if you're self-employed — for the last two years for every person signing the loan.
  • Copies of at least one pay stub for each person signing the loan.
  • Account numbers of all your credit cards and the amounts for any outstanding balances.
  • Copies of three months of bank or credit union statements for both checking and savings accounts.
  • Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
  • Addresses where you’ve lived for the two years, with names of landlords if appropriate.
  • Copies of your most recent 401(k) or other retirement account statement.
  • Documentation to verify additional income, such as child support or a pension
  • All bankruptcy and discharge of bankruptcy papers  (if applicable)