How do I obtain a Pre-Approval letter?
Typically, agents will not accept an offer without a pre-approval letter. Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much of a mortgage you are eligible to obtain.
Required Finance Documents:
- Two (2) most recent pay check stubs
- W-2 for the last two years
- If self-employed need tax returns for last two years (all pages) and profit and loss statement for the current year
- Last three month bank statements for both checking and saving bank accounts (copies of all pages)
- Most recent statement of 401-K, 403B, IRA or other retirement plans
- Copy of sales contract including all addendum
- Copy of Earnest Money Deposit check (front and back)
- Listing and selling agent telephone and fax numbers
- Closing attorney or title company who will handle the closing for both parties (buyers and sellers)
- Copy of lease agreement on rental properties (if applicable)
If you are in need of a lender, fill out a form to the right to be pre-approved and have a mortgage broker contact you.