Please use this information to help you understand how a potential lender might determine your ability to obtain a mortgage. There are a variety of loan programs available to help buyers obtain the right mortgage product and interest rate. Before you begin to look for a property, it is extremely important to communicate with a mortgage professional in order to get a complete and very detailed understanding of how much you can afford and which loan programs will best fit your needs.
Partial list of documents required for pre-approval:
1. Most recent pay stubs for each job that you hold and for each borrower
2. Two most recent years of W-2 forms OR 2 years of tax returns in self-employed or if you itemize deductions or own investments
3. The two most recent bank statements for each and all of your accounts: bank, savings, IRA/401K, investment accounts, retirement accounts, partner draw, etc.
4. If you have access to your credit scores, please look-up the exact FICO number.
5. An estimate of the balances of any loans: student loans, credit cards, lines or credit, car loans, etc.
6. Your contact information: phone, address, place of employment, etc.
7. Your social security number, date of birth, and a copy of your ID.
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