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May 2015
ULTIMATE Mortgage Approval Checklist
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(DOWNLOADABLE CHECKLIST AT BOTTOM OF POST) So. You’ve thought long and hard about purchasing your first home – Overwhelmed? (Pretty much…) No worries – no seriously! Here are a few things you should bring when meeting with your lender to apply for a mortgage approval.
Mortgage Pre-Approval: Why You Need One If there’s one thing that will save you time and heartache during the house hunt – this is it: A Mortgage PreApproval A mortgage pre-approval letter is needed when you’re shopping around for homes and want to be considered a serious buyer. It lets the real estate agent know your credit history, income and down payment reserves have been reviewed by a lender’s Underwriter that you will be able to obtain a loan up to a specific amount. This golden ticket will show the sellers of your dream home you mean business and all you need is just the initial 3 buckets of document items below (Identification, Income Documents and Proof of Funds) to get a pre-approval. Check out our homebuying process to learn more about the 7 easy steps to purchasing a home.
Mortgage Approval Checklist: What You Need To Buy A Home Everything’s easier when you group and categorize information together. So now that you’ve found your home and signed the contract, here are the main documents you need to apply for a mortgage approval: Identification(Need Copies of 2) Driver’s License Social Security Card Passport Income Documents (Copies of Most Recent) 2 Paystubs
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