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How To Get Pre Approved For A Mortgage
The mortgage pre-approval process is an essential part of your mortgage
lending experience. During this stage of the home purchase or refinance
process, we complete the mortgage loan application, gather all of the income and asset documentation needed for your loan file, and complete a 1-time pull of your credit with your permission. At Summit Lending Solutions LLC, we have a thorough and accurate application as this is the blueprint of the entire process. After obtaining all of the income and asset documents, we can submit your information and determine the maximum loan amount. We will instruct you on how to proceed after confirmation of your qualification information.
Below is a general sample of the typical items needed for a pre-approval to be complete or to start a home loan refinance:
- Provide a copy of each applicant's two most recent paystubs and two most recent w2's
- If self-employment income is your primary income source, we will need a copy of your two most recent filed federal income tax returns (the 1040's). In addition, we will request a year-to-date profit and loss statement and your two most recent business bank statements.
- Provide copies of any asset documentation you can provide: Savings, checking, 401k, stocks, money market, etc. Being able to document assets or "reserves" will increase your likelihood to obtain mortgage lending approval.
- Provide copies of each applicant's Driver's License and Social Security Card. A Passport can work instead of a Social Security Card if more accessible.
- If applying for a refinance, you will need to provide a copy of your most recent mortgage statement, a copy of your current homeowner's insurance policy declarations page, and a copy of your most recent homeowners association statement (if necessary)
- Click on the get pre-approved or apply now links on this website to complete the mortgage application.
Our team is committed to providing you with an outstanding mortgage lending experience. After you apply online, one of our mortgage agents will contact you over the phone to verify that all your information is accurate and answer any questions you may have. If you are missing a couple of documents or are unsure of what you have, do not hesitate to apply. We will help you sort it out when we call you.
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