REASONS TO GET PRE-APPROVED
FOR A LOAN

• With pre-approval, you can determine which loan program best fits your need and which programs you qualify for.

• You may be able to buy more home than you first believed.

• You will know exactly how much you are approved for. It's not fun to find your "ideal home" and then find out you can't afford it.

• Your monthly payment can be set. This will allow you to budget your money before making this large investment.

• It shows you what the likely or approximate down payment and closing costs will be.

• If you are a first-time buyer, you may be able to qualify for a special first-time buyer program which may allow you to afford more home for your money.

• If you feel you would like and can afford a higher mortgage payment but are not able to meet qualification, co-mortgagor financing may be made available to you.

• Improves your negotiating with the seller. And in today's market, Seller's will not even review an offer to purchase without the pre-approval letter attached to it.

• Saves time once you've selected a home. The loan process is already under way.

In order to expedite the mortgage loan process, please be sure that you have the following ready to give to your lenders.

Sales Contract (On the purchase of your new home)

Copy of Sale Contract and certified copy of Closing Statement (On sale of your present home)

Copy of driver's license and Social Security Care (FHA Only)

Residence History
     Past 24 months of residence with complete address
     Length of time you lived at each residence
     Name of landlord and their address (if currently renting)

Employment History
     Employers for the past two years with complete addresses
     Current pay stub
     Dates of recent two years of W-2's
     Year-to-date profit and loss statement and current balance
     sheet (if self employed only)
     If there have been any gaps in your employment, be
     prepared to explain.

Loans and Credit cards
     Creditor's names and addresses
     Account numbers
     Current total balances you owe
     Monthly installments, payments and how man months
     are left to pay.

Accounts
     Name and address of each financial institution
     Three months of bank statements for all accounts
     All account numbers
     All current balances

Current Real Estate
     Property addresses
     Estimated market values
     Outstanding loan balances
     Amount of monthly payment
     Amount of monthly rental income, if applicable.

Personal Property
     Net cash value of your life insurance
     Year, make and value of your automobiles
     Value of your furniture and other personal property

If applicable, the following:
     Divorce papers
     Certificate of Eligibility & DD2 14 (VA Only)
     Check for appraisal and credit report fees

Please note: This is for informational purposes only. Some Lenders may require less or more information. I am not affiliated with any Lenders nor receive any form of compensation for recommending or using any specific Lenders.

Realty Executives of Nevada
1903 S Jones Blvd. #100
Las Vegas, NV 89146
Direct 702 - 207 - 2742
 FAX    702 - 207 - 2743
 

Homes@PatSold.com

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Realty Executives of Nevada each office independently owned and operated
Realty Executives of Nevada is a licensed Broker in the state of Nevada
Information found on this site is deemed reliable but not guaranteed

If your property is currently listed with another broker this is not a solicitation. We fully cooperate with all other brokers.