Things I should do before getting pre-approved for a mortgage loan

Answer

You must be able to show your income to be pre-approved for a mortgage. Ideally, you would be on the same job for the past two years. Be prepared to show pay stubs or your tax statements from the past two years, whether it was from the same job or not.

Show me some more money

Also show any additional income you have, and your last two tax returns. Show your bank statements and any investment account statements you might have. Prove that you have enough for a down payment of between 10% and 20% of the loan, or 3.5% if it’s an FHA loan. Have a credit score of 620 or higher, or 580 or higher for an FHA loan.

Share with friends
Next >> »
Numbermode.com Numbermode.com
Responsive Menu Clicked Image