Steps to your pre-approval:
1. select who you’d like to get pre-approved through based on your referral to us
2. Complete your loan application and keep your eye out for a notification regarding the documents needed to issue your pre-approval
3. Collect and provide your documents
4. we will set-up a time to meet with you to go over your financing options.
5. receive your pre-approval letter and go shopping!
Getting pre-approved is the first step to an enjoyable and stress free home buying experience. It’s also not as difficult as many believe. we can have a pre-approval in your hands within one business day as long as all of the documents necessary to complete your file are received. Learn about the process and get started now.
Potential Documents Needed for Pre-Approval
(Scenario Based - Once you apply we’ll let you know what we need for you specifically)
Copy of driver’s license (Smartphone photos work great)
Consecutive paycheck stubs covering the last 30 days. (Five if paid weekly, three if paid every two weeks, two if paid twice a month, and one if paid once a month.)
Most recent two years W2 and/or 1099 forms for all employers during these years.
Complete statements (all pages even if they are blank) for the last month for all accounts you’re considering withdrawing from for down payment purposes. This includes checking/savings/investment/retirement accounts.
Most recent two years personal Federal Income Tax Returns with all schedules for the last two years. State tax returns are not needed.
If you own 25% or more of any business. Copies of corporate, partnership or S-Corporation Federal Income Tax Returns with all schedules and K-1s for the most recent two years.
If you own investment real estate for more than 1 calendar year: Complete copies of current leases on rental properties.
If applicable: Names, address and telephone numbers of your landlords for each residence you rented over the last two years. If rent has been paid to a private party, and not a management company, copies of 1 years worth of "Canceled " Checks, rent receipts, or money order receipts are required.
If applicable: complete copies of divorce decrees, separation agreement and associated amendments to document alimony and child support payments
If applicable: Complete bankruptcy papers, including filings, discharge papers and list of creditors.
For recent graduates (In last two years): Copies of transcripts or diploma showing the date of graduation. Unofficial transcripts are accepted.
Copy of your homeowners insurance declaration page - or the name and phone number for your insurance agent.
Most recent copies of any and all mortgage statements for any properties you currently own.
VA Borrowers Only DD-214 or Certificate of Eligibility.
Borrower Certification: This document will allow me to obtain an official verification of employment from your employer as is required by loan guidelines.
Mortgage Misconceptions
Be careful with online rate shopping, and be sure to read the fine print! Often, the rates advertised are misleading because they’re based on loan terms completely different than yours. Bait and switch is a tactic online lenders and lending websites are notorious for. Meet with one of us instead for an in-depth review of the loan options specific to you.
Watch out for online mortgage calculators. They generally only include calculations for the homes principal and interest payment. Leaving out calculations for property taxes, homeowner’s insurance, mortgage insurance and HOA costs (if applicable). Not including these costs that are standard to a mortgage payment can misquote a monthly payment by hundreds of dollars.
Don’t go serious house shopping without a pre-approval letter! The Denver market is extremely competitive. Because of this, sellers and their listing agents only accept offers backed by full pre-approvals. You will not be able to go under contract and figure out financing later. Get your financing squared away first and you’ll have a much more enjoyable experience overall, trust us!
