- 2018 Posts

  1. FHFA Conforming Loan Limits 2019
  2. How 2018 Market Trends Will Affect Wisconsin Buyers
  3. No Money Down Home Loans Appleton Oshkosh Green Bay Wisconsin
  4. Benefits of using FHA for your home loan
  5. Benefits of being a homeowner
  6. Wisconsin local lender vs online lender
  7. Home Loan Pre-Approval
  8. No Money Down Home Loan
  9. Serve and Support Loans
  10. Debt Consolidation and Cash Out

+ 2017 Posts

+ 2016 Posts

+ 2015 Posts

Mortgage Pre-Approval Advantages

December 20, 2016

Considering whether or not you should get pre-qualified before looking for your dream home? It's an excellent idea, for a few important reasons. 

 

Know your target price - getting pre-approved gives you a well-defined price range, allowing you to focus on home in your price range. Real Estate agents will be far more accommodating if you are pre-approved. Since they work on commission, they want to use their valuable time wisely by helping those that have made an effort and have been pre-approved for home buying. 

 

Additionally, many Sellers won't consider your offer without a pre-approval letter. 

 

So what do you need to start your loan process? Here at GSF we make getting pre-approved as easy as possible, and know exactly what we need to help you start your process. Here's a short list of the most common documents you will need, though, depending on your situation this list could change. 

 

  1. Identification - State issued ID, Driver’s License, or a valid Passport for all borrowers. 
  2. Tax Returns - The most recent 2 years of tax returns.
  3. W-2's - W-2 Statements are needed for all borrowers.
  4. Pay Stubs - 30 days of the most recent pay stubs from your current employer(s).
  5. Bank Statements - 2 months of your most recent bank statements for all savings, checking and 401K accounts.

 

Other documents you may be asked for if it applies to your situation: 

  • Mortgage Gift Letter
  • Divorce Decree
  • Pension Statement
  • Social Security and/or Disability Statement

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018