Applying for a Mortgage ' What to Bring?
When you are ready to buy a home, a mortgage is usually a key item of concern. If you want to get Pre-Approved for a loan amount, you will need to bring certain items with you when you meet with a broker:
- Copies of your most recent pay stubs (one month's worth)
- Your most recent 2 years W2's
- Most recent 2 months consecutive bank statements (all statements, all pages)
- Any legal documents such as resident alien cards, visas, divorce decrees
Pre-Approval is a process by which you will obtain a firm commitment from a lender. This commitment will give you a greater feeling of security in making an offer on a home, and will give you credibility with realtors and with sellers.
Keep in mind that 'Pre-Qualification' is only an estimate of the amount you could borrow, usually based only on verbal information.