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Pre-qualification is the first step to purchasing a home. Pre-qualification is simply determining if you can afford to buy a home and how much home you can afford to buy. Pre-qualification leads to Pre-Approval, which shows that the lender has closely looked at your file and determined that he/she can provide you with a loan up to the pre-determined amount.
On your first visit to the Lender you will need to bring the following documents:
Most Recent Pay Stubs--30 Days
Most Recent Bank Statements--3 Months
Tax Returns--2 Years
Photo ID and proof of Social Security number
Certificate of Eligibility of DD214's (if applying for a V.A. loan).
There are several factors that are considered when purchasing a home such as:
Income
Total Debt Obligations
Credit History
Cash
The Lender will explain the complete "Loan Process" and the several phases that are involved, they are:
Overall getting financing is key to obtaining your next home. Therefore it is imperative that you first be pre-approved. At the Hawkins Group of professional team will review your financial circumstances and find an appropriate lender that is proven in the industry.
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