Mortgage Pre-Approval Basics

No matter how tempting it is to start your home search by looking for houses online, your first step to buying your next home should be a pre-approval letter. Skip those online mortgage calculators. Obtaining a pre-approval letter from a lender is quick and easy. Below is a list of the basic documents you’ll need to provide your mortgage rep with– requirements will change depending on the bank you’re working with and the state in which you live.

Here are the basic set of documents you’ll want to have on hand when obtaining a pre-approval letter:

1) Copy of 2013/2014 Full Federal Tax Returns (1040s plus All schedules)

2) Copy of 2013/2014 W2 and/or 1099 forms

3) Copy of (3) Most recent paystubs

4) Statements or written description of savings and retirement balances

5) General Job description for recent 2 years – Job Title, Years employed, and Salary

There’s no obligation to use..........Article Continued HERE

Josh Jacobs

Realtor®

Keller Williams Mid-Town Direct

Maplewood, NJ

973-913-5055