When you receive your pre-qualification letter from your lender, it's pretty exciting! You have just completed the first step in seeing what you can afford in a new home. However, you will need to supply several things to your lender and you should know where the items are located. These may include:
Last 2 years of taxes - the whole package, not just the 1040
Last 2 pay stubs
Last 2 months of bank statements
Driver's License
Social Security Card
In addition to these items, your loan officer may require additional documentation. Remember, the many changes in the financial industry over the past few years have had an impact on the mortgage front as well and changes have been implemented for your LO as well. Be patient and when the request is made, remember, it's nothing personal that your LO is requesting, it's necessary for the mortgage process.
