Pre-Approval Process

Getting pre-approved before you shop for a home can help you and the real estate professional know how much you can borrow, what you can expect your monthly housing payment to be and it will help you stay within your means.

Getting Pre-Approved Helps You:

  • Find the maximum house you can buy, so you don't waste time looking for properties you cannot afford
  • Puts you in a stronger position when you are negotiating with the seller because the seller knows that your loan is already pre-approved
  • Helps the loan process flow much smoother and the loan closes faster since most of the work gathering documents was taken care of up-front

To Get Pre-Approved, you will need the following documents:

Needed for all loans:

  • Pay stubs from the past 30 days
  • Details on any other income you wish to have considered (part-time income, rental income, etc.)
  • W-2's for the past two years
  • Name, address and phone number of landlord for the past 24 months
  • Previous two months bank statements on all accounts (checking, savings, CD's, brokerage, mutual funds, etc.)
  • Most recent statements on asset bearing accounts if generated yearly or quarterly (401K, IRA, etc.)
  • Copy of driver's license

If you are self employed, receive commission income, or own investment properties:

  • Previous two years signed tax returns with all schedules attached
  • Previous two years corporate/partnership tax returns
  • Current leases on investment properties with rental income

If applying for a VA Loan (for Veterans and Military Personnel):

  • VA Certificate of Eligibility
  • Form DD-214 (Certificate of Release or Discharge from Active Duty)
  • For in-service veterans, Statement of Service and recent Leave and Earnings Statement
  • Name and address of child care provider (if applicable)

If you have been divorced:

  • Complete, signed copy of all divorce decrees
  • Proof of receipt of child support payments for the last 2 months (if applicable)

If you have declared bankruptcy in the last 7 years:

  • Copy of Petition/Decree, Schedule of Creditors, and copy of Discharge

If you are relocating with company benefits:

  • Letter from employer stating effective date of transfer and new income
  • Copy of entire relocation buyout offer (if applicable)

If you are refinancing:

  • Most recent mortgage statement on your primary loan (and 2nd lien if applicable)