Buyer Pre-Qualification 101

To Pre-Qualify For Your New Home, You’ll Need

Below are some of the common items a lender will ask for prior to providing a pre-qualification or pre-approval letter for a home.

Identification, Employment, and Income

• Driver's license, Social Security card or other form of ID

• Past 2 Years Tax Returns (or W-2s)

• Past 30 Days of Pay Stubs

• Past 2 to 3 Month of Bank Statements

Credit History

• Credit reports (lender will obtain with your authorization)

• Past 2 Years of Residency or Rental history (contact information for landlords and proof of rent payments if necessary)

Assets (If Applicable)

• Past 2 to 3 Month of Investment Account Statements (401(k)s, IRAs, CDs, mutual funds, etc)

• Down payment gift letter

• Documents on other real estate properties owned

Other Info (Special Situations)

• Existing Homeowners - details on LTV, occupancy status and purpose, property's monthly expenses, lender/loan info

• Self-Employed - YTD P&L statement, business license, list of accounts receivable, and 1099s

• Veterans - Certificate of Eligibility (COE) and/or Form DD214/separation and Form 26-1817 (surviving spouses)