How to get a Pre-Approval Letter?
Getting pre-approved is the initial step in the home purchasing or refinancing process. We will have a chat about your employment history, income, credit, and available assets. As the result of this meeting, you will get the Pre-Approval letter with the maximum loan amount that the bank could lend you.
Which documents do I need?
Copy of ID or Driver License, Passport, Permanent Resident, Employment Authorization, etc.
Also we need the copy of the Social Security Card wet signed.
Last 2 years of personal income Taxes (1040, W-2, Schedule C, Schedule E, etc.).
Self Employed borrowers must present 2 years business Taxes (1065, 1120, 1120-S, K-1, etc.).
All forms and pages are needed.
Clients W-2, must present last 30 days of paystubs.
Last 2 months of bank statements of the account that you will use to pay the initial downpayment and closing costs. Remember that CASH in hand is not accepted.
Are you Homeowner?
In case of owning a house, it is needed for each property the following:
- Last mortgage statement in case not free and clear.
- Evidence of property insurances: Hazard, Flood, Earthquakes.
- If the property has a Home Owner Association then we need the copy of the monthly payment statement or coupon.