If you want to buy a home, the first thing you need to do is get a mortgage pre-approval (unless you are paying cash). To many people buying a home is scary! Getting a mortgage pre-approval with www.CypressMortgagePro.com helps minimize stress around the home buying process.
Knowing how much you can afford with a mortgage pre-approval from Cypress Mortgage Pro helps you to streamline the house-finding process so you don’t run the risk of falling in love with a home over your budget.
#2 Gather the below documentation (could very slightly depending on info taken on loan application)
• Proof of identity –Your driver’s license can satisfy this requirement.
• Proof of income – Your paystubs provide proof of your YTD income. You’ll also need your W-2s or tax returns for the last two years. If you are self-employed, lenders will require your tax returns.
• Proof of assets – You need enough money for the required down payment and closing costs. Lenders need the last two months of bank statements. If you made any large deposits during that time, be ready to prove where the funds originated.
After you complete the mortgage application and I (Jennifer) will review your documents, if you qualify, I will provide you with a pre-approval.
The pre-approval letter will show: • The maximum loan amount • The term (15, 20, or 30 years) • The estimated interest rate (it’s not official until you lock in a rate) • An expiration date for the pre-approval letter