How Prequalification Helps You Get Your Dream Home
Pre-qualifcation of a home loan shows realtors and sellers that you are able to secure a loan to finance the purchase of a house. It can greatly speed up the buying process and may allow you to get the house you want as fast as possible. It can also help in the bidding process if you are competing with other buyers for the same house, as is the case with many desirable San Diego homes and neighborhoods. Call 619-894-8943 to speak with our office today.
How to Get Pre-qualified for a Home Loan
Getting pre-qualified for your new home loan isn’t difficult and can be done quickly. Here’s what is generally needed when you consult with a lender:
1) A basic loan application taken in person or by phone
2) Typical documentation provided to the lender
- Most recent tax returns and W2 or 1099 forms (2 consecutive years needed)
- 30 days recent paystubs
- Two months worth recent bank statements (all pages of each statement)
- Copies of state-issued ID cards (such as a current drivers license)
If there will be a co-borrower applying with you, the same information will be required from that person if his or her income or assets are used to qualify for the new loan. For businesses owners, those that are self-employed, or people with significant 1099 income, additional information is usually required and speaking with us as soon as possible is suggested to help the process move forward fast as possible.
Don’t Hesitate to Make the Right Move – Get Pre-Qualified Today
Before you start shopping for a new home, become pre-qualified for a loan and save time and trouble. In fact, many Realtors highly recommend getting pre-qualified for a loan prior to shopping for a new house. You can also do a self-check of your credit score. During the pre-qualification process, our office can also review different loan options (programs, rates, and terms) available to you, including VA loans for the many veterans we have in the San Diego area. We can help you pick the loan program that works for you to get you in the home you want.
We Have Been Providing Exceptional Lending Services for Over 30 Years
Sierra Pacific Mortgage has a reputation as one of the strongest mortgage companies in the industry, with over 30 years of history. Our San Diego location in Mission Valley is just one of the many offices we have nationwide. Our loan rates are competitive, and our efficiency and service make things easier than you might have thought possible when looking for a home loan. Find out more about our company and how we can help you in purchasing real estate by emailing us, or call 619-894-8943.