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  • The Pathway to Mortgage Pre-Approval

    The Pathway to Mortgage Pre-Approval

    How to get pre-approved for a mortgage 

    One key to snagging the house of your dreams is to be pre-approved for a mortgage. When sellers see a pre-approval note, they know there’s less hassle involved, and this will likely give you the edge over other buyers. Here’s some tips to make sure you get pre-approved.

    Clear The Obstacles 

    Long before shopping for a loan, you need to clear any financial obstacles in your way. That means correcting any errors on your credit report, making sure your credit score is as high as possible, paying down all your debt and padding your savings account.

    Get the Paperwork 

    Lenders will need access to a few different items before approving your loan, so it’s best to gather the following documents:


    1. W-2 forms (at least two years worth)
    2. Pay stubs (at least two months)
    3. Federal tax returns from the past two years
    4. Bank statements from the past two months
    5. Driver’s license


    Shop Around 

    As with any big purchase, you’ll want to shop around for the best lender available. Make sure you feel comfortable with the loan officers (or other front line folks you’re dealing with) and their communication style. Also, as US News suggests, check the CFPB site for any consumer complaints about the lender. Once you find a couple lenders, apply for pre-approval and pick the offer that makes the most sense for your budget.

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