The Benefits of a Pre-approval:
With home sales on the rise and inventories low, the purchase market is tight and competitive. It’s never too early to get pre-approved for the home of your dreams. With our no-obligation, mortgage pre-approvals, you’ve got nothing to lose! But here’s what you’ll gain:
Greater shopping power.
Before you even start looking for a home, it’s important to know the sales price you can afford. It may be more or less than you think.
With mortgage rates and underwriting guidelines dependent on credit scores, it’s crucial to review your credit early in the process. Improving your score a few points may save you thousands over the life of your loan
Greater purchasing power.
When multiple offers are on the table, an ambitious seller will likely choose a pre-approved buyer over those who aren’t.
Quicker close times.
With most of the work already done, your loan will sail through the process smoothly and close quicker.
Loan documentation checklist:
- Driver’s License
- Social Security Card
- Pay stubs showing one full month’s earnings
- Bank statements; two most recent months (all pages)
- W-2’s for the last two years. If commissioned or self employed, last two years complete tax returns
- Asset account statements (stocks, 401K, IRA, retirement) documenting funds for closing