To get preapproved for a mortgage, you’ll need a few documents detailing your income, assets and debt obligations. This helps banks and other mortgagees determine exactly how much they’re willing to lend you. Getting preapproved also helps you understand how much house you can afford, so you won’t get your heart set on a home outside your budget. We’ll walk you through this checklist. We can also assist you with finding a financial advisor who can guide you through the entire home-buying process.
Compare mortgage rates here.Mortgage Pre-approval Checklist
If you want to get preapproved for a mortgage, here is some of the paper work you’d absolutely need.
To get preapproved for a mortgage, you basically need to provide detailed documentation proving your identity, income, assets and debt obligations. Any source of money puts you in good standing. The process may seem intimidating, but a mortgage preapproval saves you from several headaches. For starters, you know more or less what you can stomach. This helps you find a home you can likely afford.
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