Why Get Pre-Qualified?

1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.

3. In Arizona, a Pre-Qualification letter is a required document that is attached to any offer to purchase, so if you are serious about buying this is the first step towards getting you in your new home.


Pre-Qualification Checklist

  • Name

  • Current Address

  • Annual Household Income

  • Estimated Monthly Expenses


Pre-Approval Checklist

Credit Information

  • Review Your Credit Information

Income Documentation

  • Gather last two years of tax returns

  • Gather two months of pay stubs

  • Last two months of bank statements

Asset Documentation

  • Gather bank statements from all deposit and investment accounts

  • Gather any additional assets (i.e. car, real estate)

  • Gift letters (if family members are helping with down payment)

  • Itemized list of monthly expenses

Other Additional Documentation

  • Social Security card

  • W2s

  • Driver’s license

  • Social Security letter (if applicable)

  • Retirement accounts (if applicable)

  • VA Certificate of Eligibility (for VA Loans only)

  • Employment history for the last two years

  • Home documentation (if applicable)

  • Deed of Trust

  • Mortgage statement

  • HOA dues


CLICK HERE to be connected to Shane Reynolds (my trusted lender) for Pre Qualification

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