ASRE Explains: Mortgage Pre-approval

Getting pre-approved through a mortgage lender is an essential first step in the home buying process. Having a pre-approval letter will let sellers know that you are a serious buyer and can aid significantly in your favor if you are in a situation where you are competing with another buyer on a home.  Getting pre-approved will also give you the best information about the price point for your budget.  Feel free to use our Mortgage Calculator to determine your estimated payments.

The process of getting pre-approved is a very easy and painless process, however it is usually the most anxiety provoking portion of the process.  To take the anxiety out of this portion of the home buying process, below is a list of what your lender will require from you to get you a pre-approval letter.

Checklist to Getting A Mortgage
  • W-2 forms - or business tax return forms if you're self-employed - for the last two years for every person signing the loan.
  • Copies of at least one pay stub for each person signing the loan.
  • Account numbers of all your credit cards and the amounts for any outstanding balances.
  • Copies of three months of bank or credit union statements for both checking and savings accounts.
  • Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
  • Addresses where you've lived for the two years, with names of landlords if appropriate.
  • Copies of your most recent 401(k) or other retirement account statement.
  • Documentation to verify additional income, such as child support or a pension
  • All bankruptcy and discharge of bankruptcy papers (if applicable)
About Us

As top REALTORS® in Sioux Falls, The Amy Stockberger Team has helped thousands of home buyers find the home of their dreams that matches their budget. Our services are completely FREE to the buyer for all homes listed on the Multiple Listing Service. And, not only are we equipped with over 43 years of combined experience, the synergy of having such a large team gives us the knowledge of fabulous homes that are for sale that aren’t even on the market yet.

 

Why You Should Work With Us

  • I’ve only ever worked with family when buying or selling a home, and the Stockberger team treated us just like family throughout the entire process. Moving from California to South Dakota was a huge transition, and you can imagine the stress that came with it. Adam and his team were there every step of the way—helping us however we needed, keeping us informed with great communication, and ensuring we had the best possible outcome. Their dedication, professionalism, and genuine care made this... Read More
  • I recently purchased a home with the help of Amy Stockberger real estate and I couldn't be happier with the experience. From our first meeting, Amy demonstrated exceptional professionalism, deep market knowledge, and a genuine commitment to finding the perfect home for me. They guided me through every step of the process, answered all my questions promptly, and made sure I was informed and comfortable throughout. Their attention to detail and negotiation skills were impressive, leading to a smoo... Read More
  • I have a hard time expressing how much I appreciate Keisha as she helped us sell my dad’s house. She is a hard worker, honest and always had our best interests at the forefront. I would recommend you contact her if you are in need of a terrific realtor!
  • Leah did a fantastic job for us and took care of looking after our house since we were many states away. She always notifed us when she needed too. She was easy to work with and always helped explain things. I would surely use them again if I would ever move back that way.
  • Everyone is so friendly and welcoming. It was nice to see Shawn again. We will be getting ahold of you when we need your assistance with selling our home in the future. Thanks for all you do. The turkey give away is an awesome gesture and a good way for clients to to reconnect. Fun for all!!!