What Goes Into a Pre-Approval?

So you’re buying a home and you’d like to know what documents you need to put together in order to make sure that you qualify for a mortgage. Here’s a list of documents which are needed to properly ensure that there are no holdups on the purchase of your new home.

Now some of these might not pertain to you, so don’t worry about those.

1) Last two years of W2s
2) Last two years of tax returns, all pages and schedules
3) Last two months of bank statements, all pages
4) Two most recent pay stubs
5) Copy of your driver’s license
6) Bankruptcy papers, all pages
7) Divorce decree, all pages
8) Separation agreement, all pages
9) Social security awards letter
10) Pension awards letter
11) Last two years of 1099s
12) Write one to two sentences on why any late payments or collections occurred on your credit report
13) Last twelve months of canceled rent checks
14) Most recent 401k, annuity, or asset statement, all pages
15) Letter of explanation on any deposits of cash into your bank account, and a list of your employment history over the last two year period.

Now you might be thinking that this is a mountain of papers. But the more information you provide upfront, at the time of loan application, the easier the transaction will go.  

This quick tip is brought to you by your friends at Liberty Home Mortgage, the homebuying experts who specialize in tough deals. To get pre-approved today, call us at 1-440-838-5291, or apply online here.