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The first step in the homebuying process is to get yourself pre-approved with a lender. This will ensure you are ready to make an offer on a home when you find the right one!

A Pre-Approval is a statement from a lender showing that they have reviewed your credit score and financials and are pre-approving you to buy a home up to a certain dollar point. A pre-approval lets you know how much you can afford when it comes to buying a home, meaning you will not be shopping above your price range. It also gives the seller confidence that you are well qualified.

In order to get a pre-approval, your lender will need to review your financial picture and will require some documents to do so. Before you sit down with a Lender, make sure you have these documents ready to go…

  • Social Security Number for all borrowers who will be listed on the loan
  • Proof of Employment
  • Proof of Income (usually your two most recent pay stubs)
  • Bank Account Statements
  • Your W-2 Statements for the last two years
  • Your Tax Returns for the last two years
  • Self-Employment Documents
  • Place of Residence (typically for the last 5 years)
  • Gift Letters (if someone is gifting you funds for the down payment)
  • Your Credit History & Score (this will be pulled by the lender from the credit bureaus)

Once you have your pre-approval in hand, you are ready to start home-shopping!

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