How do I get prequalified for a mortgage? This really can be an easy answer if you are organized and follow the direction of your licensed mortgage professional. Many feel like it will be buried in a see of paperwork.... but it really isn't that bad.
The first step will require the completion of the application. In many cases this can be done face-to-face in the loan officer’s office or other location. For those that would like to expedite the process, many companies offer an online application that that borrower can complete at their leisure.
If you take the time up front to answer ALL questions on the application it will simplify the process. Most important we be specific with the dates of your employment and rental history.
The next step will be to provide the documentation to support your application. For most financing programs it will include:
- last two years federal tax returns
- last two years W-2s
- last two months bank statements, asset statements
- pay stubs covering the last 30 days
- your drivers license and Social Security card
- contacts name and phone number for your landlord
- contact name and phone number for your insurance agent
Your loan officer will review all of your documentation and discuss your financing options based on your ability to repay the loan and your credit profile.
How do I get prequalified for a mortgage? Now you know.
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