The loan approval process typically begins with an initial interview where you will meet with a loan professional with PrimeLending and discuss your desires. You will need to bring information to verify your income and long-term debts. Often people prefer to meet with us before house hunting to determine in advance what price range they can realistically afford and the mortgage amount for which they can qualify. This step is called prequalification and can save you considerable time and trouble by making certain you are looking in the correct price range.
For your first meeting with PrimeLending, you should bring:
- A purchase contract for the house (if you have one)
- Your bank account numbers and the address of your bank branch, along with checking and savings account statements for the previous 2 months
- Pay stubs, W2 withholding forms, tax returns for two years, or other proof of employment and income verification
- Divorce settlement papers, if applicable
- Information on other consumer debt such as car loans, furniture loans, student loans and retail credit cards
- Balance sheets and tax returns, if you are self-employed
- Any gift letters, if you are using a gift from a parent or relative or other organization to help pay the down payment and/or closing costs. (This letter simply states that the money is in fact a gift and will not have to be repaid.)
Having these items on hand when you meet with us will help speed up the application process. During the meeting you will be pre-qualified for a home loan within minutes and we will further discuss any questions you may have and your options. There is no fee for this pre-qualification process. |
