Whats Needed for a Pre Approval | Mortgage Pre Approval Process Explained

Welcome to “TeamSecundy RE/MAX Properties, Inc.
To obtain a pre-approval letter for a mortgage, certain information and documentation are typically required by lenders. Here's a general outline of what you might need:
Identification: You'll need to provide identification such as a driver's license or passport.
Income Verification: This includes recent pay stubs, W-2 forms, or tax returns for the past couple of years if you're self-employed.
Employment Verification: Lenders may ask for verification of your employment status, such as a letter from your employer or recent bank statements showing direct deposits.
Assets: Bank statements or investment account statements to verify your assets. This helps the lender assess your financial stability and ability to cover down payment and closing costs.
Credit History: The lender will pull your credit report to evaluate your creditworthiness. Make sure your credit report is accurate and up-to-date.
Debt Information: You may need to provide information about your current debts, including credit card balances, student loans, car loans, etc.
Down Payment: Information about the source of your down payment funds, whether it's savings, a gift from family, or other sources.
Property Information: If you have a specific property in mind, you might need to provide details about it, such as the address, purchase price, and property type.
Other Documentation: Depending on your situation and the lender's requirements, you may need additional documentation, such as proof of residency, divorce decrees, or explanations for any unusual financial circumstances.
Keep in mind that requirements can vary from lender to lender and depending on the type of loan you're applying for. It's a good idea to check with your lender upfront to get a complete list of what they need for pre-approval.

Will Michaloski for your input on getting your pre approval letter..
Loan Officer
V.I.P. Mortgage, Inc.
2438 Research Parkway, Suite 105, OFC 4 & 5 , Colorado Springs , CO, 80920
ContactWill Michaloski:
Call/Text Direct: 719-232-7553
Email: willm@vipmtginc.com
Website: willmichaloski.vipmtginc.com

Thank you,
TeamSecundy - RE/MAX Properties Inc.
Call/Text Direct:
Brad Secundy - 719-339-2233
Tempe Krieger - 719-310-3339
Jennifer Blanco - 719-650-1356
Tyler Secundy - 559-740-3350

Posted by Brad Secundy on


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