You can provide much of this information in person or on your application. At some point in the loan approval process, the lender may request other types of documents in addition to those stated here.
Mortgage prequalification checklist
Mortgage prequalification is an assessment of whether your debt-to-income (DTI) ratio fits mortgage guidelines. This assessment provides an estimate of the amount you may be able to borrow. You may also request a prequalification letter, which you can give to your real estate agent to show you are a serious home buyer. Prequalification is optional, but it’s a helpful step in the home-buying process. Here’s the information needed for prequalification:
- Full name
- Current address
- Estimated annual household income
- Estimated monthly household debt expenses
Mortgage pre-approval checklist
Even if you haven’t completed the prequalification process with our lender, American Mortgage, you may apply for pre-approval at any time. The first step is to complete a full mortgage loan application, which will require the following information. This may not be a complete list. Your loan originator will inform you about any additional requirements.
- Your residential address for the past two years
- Landlord names and addresses for the last two years, if you rented during that time
Employment & income history
- Paycheck stubs from the last 30 days showing your year-to-date earnings
- W-2 or I-9 tax forms (issued by your employer) for the past two years
- Bank account statements from the two most recent months for all checking and savings accounts
- Any other asset statements from the past two months for CDs, IRAs, stocks, bonds or other securities you intend to use for your down payment
- Current real estate holdings including property address, current market value, mortgage lender’s name and address, loan account number, balance and monthly payment
- A list of any new monthly debts not listed on your credit report (auto loans, student loans, mortgage loans, credit cards, etc.), including creditor name, address, account number, minimum monthly payment amount and outstanding balance on each account
- Additional documents may be required at your mortgage closing. Your real estate agent and mortgage loan originator will let you know which documents will be needed when you close on your new home, and they’ll work closely with you at each step of the mortgage process.
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