#HouseHunters be prepared to offer up a pile of paperwork to earn your home mortgage pre-approval. In general, the paperwork you’ll need to assemble for your lender includes the following:
- Pay stubs from the past 30 days showing your year-to-date income
- Two years of federal tax returns
- Two years of W2 forms from your employer
- 60 days or a quarterly statement of all of your asset accounts, which include your checking and savings, as well as any investment accounts such as CDs, IRAs, and other stocks or bonds
- Any other current real estate holdings
- Residential history for the past two years, including landlord contact information if you rented
Bottom line: While pre-approval is a pain, you’ll have to pony up all that paperwork sooner or later anyway. Why not do it on the early side and get a head start on the competition and shop for your dream home with confidence?
Start calling your bank, mortgage broker or mortgage lender right away. Contact us if you’d like contact information for a few local lenders.
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- Looking for the best mortgage: shop, compare, negotiate!
- DO get Pre-Approved for a home loan, not just pre-qualified
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- Loosening Mortgage Requirements
- How To Avoid: “I couldn’t get a loan AND I’m not getting my earnest money back?”
- Get Judy’s smartphone app for real-time real estate listings