How do I get pre-approved to buy a house?
Apply now! http://northernmtg.com/nick-van-vorst/
Upload the Highlighted Items below for a QUICK pre-approval.
Send over 1, 2 and 3 to get started!
1 – Proof of Identity
- Copy of Driver’s License or State ID (front and back)
- Social Security Card – Please send a copy of your Social Security Card over if
you have a card. If you don’t have your social security card on hand we will
work around it.
- Permanent Resident Alien ID Card (if applicable)
- Visa or Green Card (if applicable
2 – Proof of Income
- If you are an hourly or salary worker
- Most Recent 30 Days Paycheck Stubs from your employer
- W-2 forms – Most recent two years
- If you are currently Self-Employed
- Copies of your Personal and Business Federal Income Tax Returns (all pages and all Schedules) for the previous 2 years. Name and email address of the CPA that prepares your Federal Income Tax Returns. Verified Business listing on Google, 411.com or another online director.
- For clients who receive Social Security, Disability, or Pension Income
- Most Recent SSI, Disability or Pension Award letter, most recent two years 1099’s
- Proof of receipt of Social Security Income – Two months bank statements from the bank account that your SSI income is deposited into each month
3 – Proof Assets
- Most recent 2 months bank statements from the bank account(s) your down
payments are coming from. We need the full statements with bank logos at the top. You should be able to download your bank statements from online banking or by stopping by a branch to pick them up. We suggest looking into setting up online banking if you don’t already have it. That way it saves you future trips to the bank
- Most Recent Asset Statements for IRAs, 401Ks, Stocks, Bonds, Mutual Funds (if applicable).
- Gift Funds Documentation – If you are receiving gift funds from a family member for the down payment on a home please provide a Gift Letter signed by all parties. We will provide the letter template to you upon request
Useful Information (after you are pre-approved)
Home Owners Insurance
- Homeowner’s Insurance quote from your insurance agent. Please start
shopping around for homeowners insurance quotes once your offer is accepted by the sellers. Please email us the homeowner’s insurance quote from the insurance agent that you decide to go with for coverage on your new home
Miscellaneous Items (if applicable)
- If you have been divorced in the past 5 years or are paying child support we will need a copy of your final divorce decree, child support orders, or separation agreement (signed by the judge). We must have ALL pages of each applicable item listed for underwriting
- If you had a Bankruptcy in the past 4 years then we will need a copy of your Bankruptcy papers (all pages) including the schedule of bankruptcy and a copy of the BK Discharge
- Veterans: Separation Papers (Form DD214). This only applies to a Veteran
taking out a VA loan
Please note that there are many factors that can cause MASSIVE turbulence in Underwriting and possibly result in a mortgage loan delay or denial. These items are called Turbulence items and for the most part can be avoided.
Turbulence items include:
Randomly changing jobs while you are purchasing or refinancing a home and taking out a mortgage.
Taking out new credit cards or loans after we ran your credit. Common mistakes people make are opening up a credit cards to purchase furniture for their new home before we close their mortgage. Missing payments on any loans you have
Please make sure that you do not deposit large amounts of cash into your checking or savings account at any point while you are purchasing a home. If you deposit cash into the bank those funds cannot be used for the down payment on a home.
Earnest Money Deposit
Please make sure you give your Realtor a personal check or a cashier’s check for the Earnest Money deposit (also called Good Faith Deposit) or use the app that is provided by your Realtor. Cash and Money Orders cannot be used for the Earnest Money Deposit.
The earnest money deposit must come from someone listed on the pre-approval letter unless otherwise approved by our office ahead of time.
Once your Ernest Money Deposit (EMD) check clears your account the Underwriter will require a copy of the front and back of the check and a 60 day bank transaction history print out from your bank showing the funds cleared your account (personal and cashiers checks only).