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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
NMLS #222688 & 1018