Preapproval Checklist
Your
Preapproval Checklist.
Here's everything a lender will typically ask for when you apply for a mortgage. Gather these documents and you'll walk into the loan process ready.
Your Preapproval Checklist
Here's everything a lender will typically ask for when you apply for a mortgage. Gather these documents and you'll walk into the loan process ready.
1
Documents to Gather
- Last two years of federal tax returns
- Last two years of W-2s and 1099s
- Last 60 days of pay stubs
- Last two months of bank statements for every account
- Recent statements for investment, retirement, and 401(k) accounts
- Your government-issued photo ID
- Your Social Security number
- Proof of any other income, such as alimony or rental income
- An explanation for any large deposits, and a gift letter if part of your down payment is a gift
- Contact information for your landlord or property manager if you rent
- Your address history for the last two years
- A list of your current monthly debts and obligations
2
Steps to Complete
- Pull your credit report from all three bureaus and review it for errors
- Know your credit score and what it means for your rate
- Compare at least two or three lenders, including a local lender, a big bank, and a credit union if you belong to one
- Get a full preapproval letter, not just a rate quote
- Ask each lender for a loan estimate so you can compare costs side by side
- Know which loan types fit you, such as conventional, FHA, VA (if eligible), and Florida-specific programs
- Set your budget including property taxes, homeowners insurance, flood insurance if required, and HOA dues
- Ask about locking your rate and whether a buydown makes sense for your situation
Print this page or save it to your phone so it's ready when you are.
Questions about the process? Michael Hart, Realtor (SL3543489) at eXp Realty, is here to help. Call or text 240-357-3279, or send him a message.
Michael Hart | Homes with Hart by eXp Realty