The first step in the homebuying process is to get yourself pre-approved with a lender. This will ensure you are ready to make an offer on a home when you find the right one!

A Pre-Approval is a statement from a lender showing that they have reviewed your credit score and financials and are pre-approving you to buy a home up to a certain dollar point. A pre-approval lets you know how much you can afford when it comes to buying a home, meaning you will not be shopping above your price range. It also gives the seller confidence that you are well qualified.

In order to get a pre-approval, your lender will need to review your financial picture and will require some documents to do so. Before you sit down with a Lender, make sure you have these documents ready to go…

• Social Security Number for all borrowers who will be listed on the loan

• Proof of Employment

• Proof of Income (usually your two most recent pay stubs)

• Bank Account Statements

• Your W-2 Statements for the last two years

• Your Tax Returns for the last two years

• Self-Employment Documents

• Place of Residence (typically for the last 5 years)

• Gift Letters (if someone is gifting you funds for the down payment)

• Your Credit History & Score (this will be pulled by the lender from the credit bureaus)

Once you have your pre-approval in hand, you are ready to start home-shopping!