Pre-Approval is stronger than Pre-Qualification

Pre-approval requires more documentation upfront such as two years of tax returns; however, this helps eliminate any financing surprises as we go to close.  A good lender can make or break a deal!  It’s so important to choose a good lender who has underwriters in the same office.  

Requirements for Pre-Approval

1)  Social Security Numbers for you and your spouse

2)  Checking and Savings Account statements for the last 6 months

3)  Other assets such as stocks or bonds

4)  Recent paycheck stub and employment verification

5)  All credit card account balances

6)  Tax Returns for the last two years