The Importance of Being Pre-Approved

As soon as you're ready to start looking for a home, we recommend getting pre-approved with a mortgage provider. This is a crucial stage in the home-buying process since it explains how much the bank will loan you, what your monthly payment will be, and how much cash you'll need to close. It also provides you a leg up on other purchasers who haven't gotten pre-approval. A sure thing appeals to sellers. They want to know if a buyer is sincere and that they are prepared to proceed without any financial issues. Purchasing a pre-owned vehicle from a reputable lender helps to relieve these concerns.

Depending on how quickly you can give the essential information, the pre-approval procedure can take a day or two. We can give you a list of lender recommendations if you are new to the buying process or don't know where to start your lender search.

Here is a common list of documents you should prepare before meeting with a lender. 

Employee

• Last 2 years of W2’s

• Last 2 years filed tax returns

• 2 current pay stubs

• 2 current bank statements 

• Statements from investment accounts

• Copy of driver's license

• Copy of social security card

Self-Employed

• Last 2 years 1099

• Last 2 years filed tax returns

• 2 current bank statements

• Statements from investments accounts

• Copy of driver’s license

• Copy of social security card

If you have any questions regarding getting pre-approved or if you or anyone you know is thinking about buying or selling, please give us a call at (702) 803-3527.