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Documents for mortgage preapproval

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Before you set out to find a home, you need to know how much you can afford and that you’re able to get a mortgage to make it happen.  To do that, you need a mortgage lender to preapprove you for the loan. Here’s a checklist of what you need to get a mortgage preapproval letter.

Documents for mortgage preapproval

Employment and income

The following information is needed for all borrowers signing the loan:

  • Pay stubs from at least the past 30 days
  • Tax returns (including W-2s) from the past two years
  • Bank statements from the past two months to three months – Checking, savings, money market accounts
  • Employment information – Contact information of employers in the past two years (some employers have an employment verification phone number lenders can call)
  • Business records if self-employed
  • Other income sources – Bonuses, child and/or spousal support, disability or VA benefits, pension, Social Security or other sources

Assets

  • Account statements from the past two months to three months – 401(k)s and/or IRAs, CDs, mutual funds or other investment or retirement vehicles
  • Down payment gift letter if applicable
  • Information on other real estate if you have multiple properties

Debts

  • Loan statements from the past 60 days – Auto loans, credit cards, personal loans, student loans

Credit history

  • Credit reports and scores retrieved by the lender lender with your authorization
  • Rental history – Contact information for landlords and proof of rent payments, such as canceled checks or paid receipts

Identification

  • Driver’s license, Social Security card or other form of ID
  • Recent residences and tenure at each

Mortgage preapproval FAQ

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Bankrate
This article was generated using automation technology and thoroughly edited and fact-checked by an editor on our editorial staff.
Edited by
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Reviewed by
President, Real Estate Solutions