Becoming pre-approved depicts you as an individual who is intent on buying a new home, as you’re willing to take the extra steps to commit towards buying a home. As a result, you’re more likely to be viewed as more competitive, thus causing you to be much more likely to be able to buy a house in this competitive market.

 

Not only does it demonstrate your interest, but it also speeds up the buying process, as you’ll be working with real estate professionals who can connect you with lenders who can also provide their assistance to you. This will allow you to expand your list of contacts in this field, allowing you to obtain second opinions and advice on the proper measures needed to maximize your value.

 

In the case that you don’t want to be competitive and don’t care about the speed of the buying process, getting pre-approved can still be important in providing you with an accurate view of what you can afford and what you can’t. You’ll be able to see how your financial capacity, cash reserves, credit, and collateral stack up when buying a home. As a result, you’ll become more knowledgeable about the process of buying a home and your ability to buy a certain home.

 

Being a pre-approved home-owner is an incredibly important step towards buying a new home, as it demonstrates your intent on buying a home, speeds up the buying process, and can provide you with an accurate view of what you can afford when buying a house.

 

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In the meantime, here is a list of items that you may need when you meet with one of our financial mortgage planners:

  • ONE MONTHS WORTH PAYSTUBS (MOST RECENT PAYSTUB).
  • COPY OF THE LAST 2 YEARS OF YOUR W2s OR 1099s (ALL PAGES).
  • COPY OF THE LAST  2 YEARS OF YOUR FEDERAL TAX RETURNS (ALL PAGES).
  • COPY OF THE MOST RECENT  CHECKING & SAVINGS BANK STATEMENTS (LAST 2 MONTHS (ALL PAGES)).
  • 401K, ROTH IRA, CDS, STOCKS, BONDS, RETIREMENT, ETC (ALL PAGES).
  • COPY OF DRIVERS LICENSE WITH PHOTO ID.
  • COPY OF SOCIAL SECURITY CARD.
  • RESIDENCE CARD (IF APPLICABLE).