A fully underwritten Pre-Approval advantages:

• Determine maximum purchase price and maximum monthly mortgage payment
• Save time by only looking at properties you're pre-approved to buy
• Ability to close more quickly
• Make your offer more attractive to a seller with multiple offers
• Seller and listing agent love knowing you've been fully underwritten and a legitimate buyer

PRE-APPROVAL STEP BY STEP EASY PROCESS - Your financial and personal info should be organized and available before you begin:

APPLICATION & CREDIT:  Complete online or by phone - call 612.730.5467.  We request authorization to review you credit report and scores.

LOAN OPTIONS:  We email you preliminary loan options showing rates, payments, down payments, closing costs, funds to close, etc.

LOAN ANALYSIS:  We review preliminary loan options together and help you determine your best option. 

DISCLOSURES & DOCUMENTS:  You'll receive disclosures and a checklist of documents needed via email.  Examples of documents needed below.

UNDERWRITING:  Disclosures and checklist documents received from you are submitted to lender for underwriting review.  A conditional approval is issued by underwriter if all looks good.  

YOU ARE PRE-APPROVED!! I'll email your pre-approval letter.  Go find your new home!!

EXAMPLES OF DOCUMENTS NEEDED:  

These documents are reviewed by an underwriter when you apply for a mortgage.  Every situation is unique and may require additional documentation.  

• Copies of your pay-stubs for the most recent 30-day period and year-to-date
• Copies of your W-2 forms for the past two years
• Full 2 year job history for all borrowers.  If student, dates of attendance and transcript
• Copies of driver’s license and social security card for all borrowers (verify identity)

If self-employed or receive commission, bonus, or rental income:

• Provide personal tax returns for the last two years - include all pages and schedules
• Copies of ALL K-1's for all partnerships and S-Corporations for the last two years and 1099s
• Business tax returns may also be required
• If a CPA prepares your taxes (personal and/or business), I can usually get a secure copy emailed from them.  Easier.

Alimony or Child Support to qualify:

• Provide divorce decree/court order stating amount, as well as, proof of receipt of funds for last year

Social Security income, Disability or VA benefits:

• Provide award letter from agency or organization and 1099s

Source of Funds and Down Payment

• Sale of your existing home - provide a copy of the signed sales contract on your current residence and statement or listing agreement if unsold (at closing, you must also provide a settlement/Closing Statement)
• Savings, checking or money market funds - provide copies of bank statements for the last 2 months - ALL PAGES, EVEN IF BLANK
• Retirement - provide most recent quarterly statement or 2 most recent statements if received monthly - ALL PAGES, EVEN IF BLANK
• Gifts - If you'll be receiving a gift to help with down payment and/or closing costs:
  • LET ME KNOW ASAP.  Who will gift come from?  How much? (Very important so we know if gift will be allowable)
  • DO NOT transfer any of the funds.  Gift transfer needs to be completed correctly.  I'll help with the steps.  Easy.

Debt or Obligations

• You need to disclose ALL residential property you have an ownership interest, even if the property is owned free and clear.
• If you have had a short sale, deed in lieu, foreclosure, or filed bankruptcy in the past 10 years, please let us know that information.
• If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation

CLICK HERE TO GET YOUR PRE-APPROVAL STARTED!