Starting your pre approval is a key step to figuring out what your home options could be and will prove to be an essential part in getting you financially prepared for the next chapter in your life. Just so that you are prepared from the very beginning of your pre approval process I’ve noted a list of documents you should already start to collect and organize. They will be:
Photo ID, Green cards, etc
Consecutive one month worth of pay stubs
Proof of all additional forms of income: Award letters, unemployment stubs, alimony, child support, etc
Last two (2) years of Federal 1040 Income Tax Returns as well as all supporting W2’s & 1099’s
If you are self employed: Last three (3) years of Federal 1040 Income Tax Returns and 1099’s
Last three (3) month bank statements for all funds to be used towards your home purchase
Don’t forget that you may be able to cash into your 401k, CD, etc
You might be asked for additional items like proof of payments on you or your spouses credit cards as well as payments on for current rental. If you live with a family member or friend you will most likely need them to provide a signed letter confirming such details.
Lastly, and most importantly, be sure to speak with Vanessa or Olga Villanueva beforehand. This way they can properly inform you of price points, maint. fees, RE taxes, and any required down payment for property styles you may be interested in.