Documents needed for a pre-approval

Documents you need for Pre-Approval

If you want to know how much the bank would lend you to buy a house, you need to get a pre-approval from a lender. To get an accurate and real pre-approval, the following are the most important documents you have to send by email or fax, or take directly to the lender's office.

1.  You need copies of your federal and state tax returns for the last two years. It is very important that you take ALL pages, so that the lender can determine your income. This is absolutely important if you work as a subcontractor or as an independent contractor, because you are required to have submitted the 1099 form for two consecutive years.

2. If you work as an employee, you need your W2 forms from your most recent jobs for the last two years.

3. You also need one month of paystubs from the company where you're currently working.

4.  You must show a US identity document and your social security card. With this, the lender will verify you are the applicant and check your credit with your social security number.

5.  You need two months of banks statements. Remember that you must have funds in your bank account as well as all your bank statements. Depending on each case, the lender may require other documents, especially when you are under contract. But it's important you have those I've just mentioned to get a pre-approval and start looking at homes!



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