If you are looking to get pre-approved for a mortgage loan, then there are several items that you will need to provide to your mortgage professional or mortgage broker. The first step in the pre-approval process is to find a mortgage professional or mortgage broker that you feel comfortable working with. The more information that you provide upfront for your mortgage broker, the better off you will be in the long run and the less chances you have for any problems or delays in closing. To obtain a pre-approval letter, your lender will ask you to provide them with a number of documents that will create a "snapshot" of your current financial health and your ability to borrow. For each adult who will be on the loan application, the lender will require:
30 days worth of pay stubs
60 days worth of bank statements for every bank account
W-2â€™s for the last 2 years
Tax Returns â€“ ALL pages for the last 2 years
Name, address, telephone and fax of your employer(s) for the past 2 years
Name, address, telephone and fax of your landlord(s) for the past 2 years.
If you are self-employed, you will need tax returns from the last two years
A current mortgage-specific Credit Report will be needed for a pre-approval to be issued, and must be pulled by the issuer in many states. Generally, if you've been pre-approved for a credit-based mortgage without a credit check by the issuer of the letter, that pre-approval letter isn't worth the paper it's printed on.