Prior to beginning your home search you should speak with a lender regarding your financing options. With rates being as low as they are, buyers are finding they can afford a little more than they originally thought. Discussing your options with a lender also insures that we only look at homes that keep your monthly payment where you want it to be. After speaking with a lender and filling out your application, the lender will be able to provide you with a pre-approval letter which we will need when we submit an offer on a home.
Here is a list of information a lender will need in order to get you pre-approved:
- Two most recent paystubs for all parties that will be on the loan.
- Last two years of W-2’s for all parties that will be on the loan.
- Last two months bank statements for all parties that will be on the loan
- If self-employed, last two years of ALL tax returns.
- If on a fixed income, a copy of your “Award Letter”.
- If a veteran and applying for a VA loan please also include a copy of your DD214 and disability papers if you are 30% or more disabled and are approved to waive the VA funding fee.