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  • First Time Buyers

  • Current Home Owners

  • Investors

  • Retirees

Make an offer on the property you have an eye on.

We’ll work on getting it accepted for you.

Documents You Need for Mortgage Pre-Approval

You’ll need to gather certain documentation to initiate your approval process for a mortgage loan. Use the list below that best fits your particular situation. Contact Vidal for answers to any questions you may have.

 

FHA Loan

If you're applying for mortgage pre-approval with the Federal Housing Administration, you'll need these documents:

  • Identification (one of these, which you will need to show in person)

    1. Driver's license

    2. Passport

    3. Other state- or federal-issued ID

  • Income

    1. Pay stubs for the last 30 days, if applicable

    2. Last two federal tax returns

    3. Last two W-2s or 1099s, if applicable

    4. Proof of any additional income (second jobs, social security, alimony, etc.)

  • Accounts

    1. Last two statements on all bank accounts — be sure to include all pages, even blank ones

      1. Statements for all investment and/or retirement accounts

  • Property

    1. Closing disclosure (or HUD-1 if the sale took place before Oct. 3, 2015) for previous purchase

  • Additional documents

    1. Contact information for your landlord(s) for the last two years, if applicable

    2. Divorce decree, separation agreement, and/or property settlement agreement, if applicable

    3. Gift letter if a family member is helping with down payment (lender will have form)

    4. A letter of explanation (LOE) for late payments, collections, judgments, or other derogatory items in your credit history, if applicable

Investment Property

If you're buying a property you plan to rent, these are the documents you should have in hand to apply for pre-approval:

  • Identification (one of these, which you will need to show in person)

    1. Driver's license

    2. Passport

    3. Other state- or federal-issued ID

  • Income

    1. Pay stubs for the last 30 days, if applicable

    2. Last two federal tax returns

    3. Last two W-2s or 1099s, if applicable

    4. Proof of any additional income (second jobs, social security, alimony, etc.)

  • Accounts

    1. Last two statements on all bank accounts — be sure to include all pages, even blank ones

    2. Statements for all investment and/or retirement accounts

  • Property

    1. Settlement statement on any recent home sales

    2. Recent mortgage statements on all properties you own

    3. Proof of insurance for all properties you own

    4. Current leases for all rental properties you own

  • Additional documents

    1. Contact information for your landlord(s) for the last two years, if applicable

    2. Divorce decree, separation agreement, and/or property settlement agreement, if applicable

    3. Gift letter if a family member is helping with down payment (lender will have form)

    4. A letter of explanation (LOE) for late payments, collections, judgments, or other derogatory items in your credit history, if applicable

 

Self-Employed / Business-Owner

If you're self-employed or own a business, these are the documents you need for the mortgage pre-approval process:

  • Identification (one of these, which you will need to show in person)

    1. Driver's license

    2. Passport

    3. Other state- or federal-issued ID

  • Income

    1. Pay stubs for the last 30 days, if applicable

    2. Last two federal tax returns

    3. Last two 1099s

    4. Proof of any additional income (second jobs, social security, alimony, etc.)

  • Accounts

    1. Last two statements on all bank accounts — be sure to include all pages, even blank ones

    2. Statements for all investment and/or retirement accounts

    3. Last two years' Corporate, S-Corp, LLC, or partnership tax returns

    4. Last two years' 1099s, if applicable

  • Property

    1. Settlement statement from previous home sale, if applicable

  • Additional documents

    1. Contact information for your landlord(s) for the last two years, if applicable

    2. Divorce decree, separation agreement, and/or property settlement agreement, if applicable

    3. Gift letter if a family member is helping with down payment (lender will have form)

    4. A letter of explanation (LOE) for late payments, collections, judgments, or other derogatory items in your credit history, if applicable

    5. Last two months' profit-and-loss statements (you can put one together in about five minutes)

    6. Balance sheet, if applicable (rules vary by state)

    7. Current business license

VA Loan

If you're seeking pre-approval for a Veteran's Administration home loan, these are the documents you will need:

  • Identification (one of these, which you will need to show in person)

    1. Driver's license

    2. Passport

    3. Other state- or federal-issued ID

  • Income

    1. Pay stubs for the last 30 days, if applicable

    2. Last two federal tax returns

    3. Last two W-2s or 1099s, if applicable

    4. Proof of any additional income (second jobs, social security, alimony, etc.)

  • Accounts

    1. Last two statements on all bank accounts — be sure to include all pages, even blank ones

    2. Statements for all investment and/or retirement accounts

  • Property

    1. Settlement statement from previous home sale, if applicable

  • Additional documents

    1. Contact information for your landlord(s) for the last two years, if applicable

    2. Divorce decree, separation agreement, and/or property settlement agreement, if applicable

    3. A letter of explanation (LOE) for late payments, collections, judgments, or other derogatory items in your credit history, if applicable

    4. Certificate of eligibility (COE) from the Veteran's Administration, which may require one or more of these documents, depending on your situation:

      • Form DD-214, certificate of release or discharge

      • Statement of service from the adjutant, personnel office, commander, or higher headquarters if still on active duty

      • Form 26-1817 or form 21-534 for surviving spouses, plus form 1300, report of casualty, or death certificate

 

We’re here for you whether it’s your first home, investment, or relocation. Whatever it is, we’re here to help with your real estate.