How to get preapproved for a mortgage.

Profile picture for Visaliarealestate

Within today's real estate market you are required to be preapproved for a mortgage or show avaiality of funds in a bank or investment account when submitting an offer to a seller.  I find that rates, and fees are not only part of the cost of a loan.  You also have the personal cost of dealing with someone in a far away place or dealing with that loan officer who has in house underwriting in a local location near you.  Some information that a loan officer will normally ask you for is:
1. W-2 for the past two years.
2. Pay Stubs for the past 2 to 3 months
3. Past two months of Bank and investment accounts all pages.
4. Social Security #
6. Picture ID. 


Need more information on finding a local loan officer contact me at

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January 22 2011 - Tulare
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Profile picture for Jerry Current
Steven,  I agree wholehartedly.  there is enough stress usually when buying a home that the benefit of using a good local lender far exceeds any slight cost advantage using a faroff lender.  Of course the local lender has to be competetive too.
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January 22 2011
Profile picture for CalSTRS Specialist
Don't forget about tax returns for the self employed and/or rental agreements for the non-owner! :)
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January 26 2011
 
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DiscussionHow to get preapproved for a mortgage.
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