Getting Pre-Qualified

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What Will I Need to Apply for a Mortgage

W-2’s from Current and Past Employers

Your mortgage lender will likely require your most recent W-2’s from all current employers for each applicant. However, some lenders may even require W-2’s from the past two years. If new W-2’s become available during the loan application process, your lender may require those to be produced as well.

Contact your employer if you don’t have a copy of your W2’s. If you still are not able to get your W-2’s , the IRS does allow you to order copies of documents you have submitted along with a copy of your tax return.

Pay Stubs
Bank Statements
Tax Returns
Debt Lists
Asset Lists
Credit Report

GETTING PRE-QUALIFIED
(THINGS TO KNOW)

 

Getting pre-qualified is a must in this current real estate market!

 

  •  It is a seller’s market and there are typically multiple offers on properties.  In order for your offer to be considered by the seller, you will need to provide a pre-qualification letter from a lender as well as proof of non-contingent/liquid funds for the down payment and closing costs.

 

  • Apply for a loan through a couple of lenders.  All of them have online application processes now. 

 

  • We have supplied two lender links for you  below to Guild Mortgage and Evergreen Home Loans.

 

  • Lenders have stated that your credit score for loans to purchase  a home will not be “hit” repeatedly effecting your score and that you will have one “hard hit” and the rest “soft hits” that do not affect your score.  Check with lenders as you inquire about applying.

 

  •   If you have a home to sell in order to purchase your new home, we will need to establish the current fair market value of your present home.  Please go to the "How much home can I afford" page to get an estimate of the value of your home.  Then, call or email us and we will get together with you face-to-face and view your home to make upward or downward adjustments of that estimated value together.