Congrats! You've taken the first step toward Homeownership!
Let's first explain the difference between Loan PreQualification and Loan PreApproval.
PreQualification means the lender has obtained some info and has a "rough idea" of how much a borrower is qualified to borrow.
PreApproval occurs when the lender has actually reviewed the borrower's financials and will offer a loan for specified loan limit. PreApproval is much more reassuring and appealing, especially from a seller looking at multiple offers from buyers. We will make sure you're PreApproved and ready to begin your home search.
To obtain PreApproval, the following documents may be needed:
1. Picture ID
2. Recent paystub last 30 days
3. W2 and Federal Tax Returns for last 2 years, all schedules
4. Bank statements (checking, savings, investment, retirement) for all accounts that will be used to purchase the property, all pages required
*Other items may be required if you are; Self Employed, Veteran, Retired, Divorced, have investment properties, etc.
You can contact us to get more info, setup an appointment to meet or apply online here:
Phone: (808) 551-5495