Put simply, getting Pre-approved establishes how much home you can afford.
Pre-approval helps you understand what you can afford, what you’ll be able to borrow, and your overall budget for home shopping.
Knowing how much you can spend beforehand gives you two things:
- It keeps you from wasting time looking at homes outside your price range.
- It provides you important information for price negotiation.
In order to establish your purchasing power, we’ll have you complete an application. This will be the first step in building what will ultimately be your purchase plan.
Along with the application, we’ll also need a few pieces of information. Gather these items and start your application below.
Items to Collect
- One month’s pay stubs and any documents that reflect your prior years bonuses or OT, if applicable
- Two months recent bank statement (checking and savings, 401k or any other accounts where assets are held)
- 2022, 2023 employer W2 forms and 1040 tax returns – 2023 and prior years must be filed for approval
- Copy of driver’s license and social, and resident alien card (if applicable)
Other Items (if Applicable)
- Award letter(s) for monthly fixed income (retirement, pension, social security, child support, etc.)
- DD 214 for active or retired military
- Current mortgage statement for refinance or additional real estate purchases