Jun 22, 2020
Getting pre-approved for a mortgage loan is a simple, three-step process.
Complete an online application. Now, we're not going to link to the application yet because if we do, you'll click on the application and never come back to read the rest of this page. And we want you to read the rest of this page. It's important info and it will make the pre-approval process easier for you (and for us!).
Don't stress about the online application. Nothing you enter into the application is written in stone. We can change, edit, delete, and revise whatever is needed. We promise, you can't mess it up.
And don't worry about getting every detail precisely correct. The online application is just a starting point. We don't need to know that you have exactly $5,324.19 in your bank account. An estimate of $5,000 is good enough. We'll update your bank account balances when we receive your bank statements anyway.
After you complete the application, the computer will ask you to upload paperwork. Now, the computer isn't terribly smart. It might ask you to upload your taxes twice - once for the borrower and once for the co-borrower. If you're married and you file taxes jointly with your spouse, there's no need to upload the same thing twice.
Nothing bad will happen if you don't upload every piece of paperwork the computer requests. Just do the best you can.
You may find that some files (especially files like tax returns) are too big to upload. That's fine. Just email them or upload them to a Dropbox folder.
If you don't have a scanner, don't know how to create pdf documents, or you're finding the document upload too cumbersome to work with, please let us know. We can help you!
And please do not take separate pictures of each page of your paperwork with your cell phone. It will take you a very long time and it's likely the files won't be readable on our end. We are happy to make arrangements to pick-up physical paperwork from your home or office. We can even send you a prepaid FedEx label if you're not local.
The computer will probably ask for the following documents:
- 2018 and 2019 personal federal tax returns including all pages and all schedules (federal only). Send 2019 and 2020 if you've already filed 2020.
- 2019 and 2020 W2s and/or 1099s for all sources of income (wages, pension, social security, IRA distributions, etc.)
- Pay stubs reflecting the most recent 30 days of income for all applicants.
- Previous two months' bank statements for checking, savings, investment, and retirement accounts. Please include all pages, even if the last page is blank or otherwise irrelevant.
If any of the following documents apply to you, you may be asked to provide them as well:
- If self employed, complete business tax returns for the previous two years. Please include all pages and all schedules.
- 2021 social security awards letter with current benefit amount.
- Divorce decree and/or child support agreement
- Complete bankruptcy discharge papers.
- DD-214 or military discharge papers.
If your credit is frozen, you will need to "thaw" all three credit bureaus before we can process your pre-approval.
If you're local, please contact us to schedule a time to meet. If you're not ready for an in-person meeting or you live far away, we can arrange a telephone or WebEx meeting to review your application and answer any questions you have. In most cases, we can provide you with a pre-approval certificate the same day.
Now that you've made it to the end, here's that link to the online application: Application Link!
We look forward to working with you!