Documents needed for preapproval

hey ladies me and dh are getting in touch with his parents broker/agent today so we can start the buying/looking process offically!

.. I just was wondering if you knew what documents were needed for the preapproval so i can start to get them ready to send to them...

tia!

Re: Documents needed for preapproval

for our pre-approval we need:
2 forms of id
2 months of bank statements
2 last paychecks
docs for my 401K and my DH's annuity

Re: Documents needed for preapproval

I actually didn't need any documents for the preapproval. I did everything over the phone and just needed to tell them what our salaries are, the amount of money we had in the bank, any other assets we had, and information about our employers.

For the actual approval I had to send them W-2's, paychecks, bank statements and a 401k statements.

Good luck!!!

Re: Documents needed for preapproval

Re: Documents needed for preapproval

we didn't have to provide a single document for the preapproval or for the actual loan. they said it was because our credit was so good. but normally you can expect to need the things the above posters listed. if you've had a recent job change, they sometimes want to see your offer letter and pay stubs from your previous job.

Re: Documents needed for preapproval

to clarify, there is a difference between a prequal and a preapproval.

for a prequal, you dont need anything but the phone and to tell your broker what you make. however, this means virtually nothing to a REA because you dont provide any real evidence to back up what you say.

for a preapproval, you need all the things that kerry listed above. THIS is what REA and homeowners are looking for.