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.
- 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)
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
- Amy and her team did an amazing job from start to finish! She gave us great advice on how to best show our home and her photographer did a wonderful job showcasing it. Our house sold in a couple of days, and it was the smoothest real estate experience we have ever had. We would highly recommend Amy- Linda B
- We bought our first home in December and couldn't be happier with the service Adam provided. He always made sure we were on the same page. Even after we bought our home I have called him for advice and he is always happy to help. If your looking for an honest and knowledgeable agent who will work to- Ethan K
- Adam thanks for the great job selling our home. You and the Amy Stockberger team are remarkable and assisted in ever step of having our home prepared for showing and for working through the sales process. Excellent team and great customer service.- Jim D
- Amy is the BEST!!!- Sarah M