Pre-Approval

Getting a pre-approval letter from your lender is one of the most powerful things you can do if you are looking to buy a home. To get pre-approved, a lender will verify key factors such as your income, debt, employment history, and credit rating. Based on this information you will be given a pre-approval letter that will specify how much you have been pre-approved for. There are several benefits to getting pre-approved.

A pre-approval is considered more powerful than a pre-qualification. With a pre-approval:

You know how much you can afford to borrow.
You won’t waste time looking at homes out of your price range.
Your realtor will take you more seriously knowing that you have already been pre-approved.
The seller will be more likely to accept your offer if you have been pre-approved.
Once you find a home, your loan can close more quickly if you have been pre-approved.

Getting pre-approved can be a simple and quick process. We will verify the documentation you gathered in the Preparation Stage and run your credit report. If there are any additional questions we will work with you to make sure we have correct information. The documentation needed is:

30 Days Most Recent Pay Stubs
2 Months Most Recent Bank Statements
2 Years W2s
2 Years Federal Tax Returns
Recent Mortgage Statement (If you own a property)

Once you have given us the above information and we have been able to run your credit report, we can issue you a pre-approval letter the same day!

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