What Do You Need To Get Preapproved For A Mortgage Loan?
To break it down for anyone seriously considering purchasing a home – In the early stages, before you can officially receive a preapproval letter you will need to supply the following documents:
Copy of your driver’s license
2-year residential history
Most recent 30 days of pay stubs
Most recent 2 months of official asset statements (i.e., checking and savings accounts)
The last 2 years of W2’S and
The last 2 years of Federal Tax returns
In addition to providing these documents a credit report will be ran on your behalf to check on the health of your finances.
Lastly, while this is somewhat simplified, every individual is different, and the circumstances are as well. Thus, in some cases you may need to provide additional documentation (I.e., divorce decree, business tax returns, bankruptcy paperwork, etc.)
The list for documents is certainly on a case-by-case basis, however, after consulting with Chris we will be able to compile a list of documents that will be needed specifically for you and your home buying needs!
As always, if you have specific questions, comments, concerns, please do not hesitate to submit your contact information for a response from us!