PRE-APPROVAL PROCESS

To be pre-approved, you must submit an application and verify your credit and financial history. After you receive your pre-approval certificate, you’re in a stronger position to close earlier and negotiate a better price. It’s highly recommended that you seek pre-approval if you are shopping for a home. Veterans Lending Group can help you through the process with our online application!

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PRE-APPROVAL PROCESS

Complete your loan application in person, online, or over the phone–it only takes 10 minutes. Your loan officer can assist you with any questions you may have.

This checklist will help you gather the documents you’ll need to get pre-approved. We need to review all of these documents to issue a pre-approval letter.

An underwriter will review and verify your financial status and credit history. With a pre-approval, you’ll be able to set your budget, negotiate confidently, and close faster.

Once underwriting has verified all of your info, your loan officer will issue you a pre-approval package. In it, you’ll find your pre-approval letter!

PRE-APPROVAL CHECKLIST

  • Clear copies of current Driver’s License/State ID and Social Security Card (No Military ID)
  • Proof of Income for the most recent 30 days: pay stubs, retirement income, award letters for government assistance such as social security or disability
  • W2 or 1099 for the last 2 years, all employers
  • Most recent 2 months bank statements for all accounts (savings, checking); all pages must be included. Be sure to explain and document all large deposits other than your regular income deposits
  • Two years of the most recent Tax Returns personal and business (if applicable)
  • Current 401k or retirement account statement, all pages to cover 60 days
  • Employer contact info including: Name, Phone, Fax or Email for the last 2 years of work history
  • Addresses for the last two years
  • DD-214 Certificate of Release or Discharge from Active Duty (only applicable to VA Loans)

PRE-APPROVAL FAQ

WHAT IS PRE-APPROVAL?

A pre-approval is a written commitment from a lender to extend a mortgage to you for a specific amount and time period. This involves an analysis of your financial status and credit history.

WHAT ARE THE BENEFITS OF PRE-APPROVAL?

With a pre-approval, you’ll be able to set your budget, negotiate confidently and close faster. Realtors and sellers will often take your offer more seriously if you get preapproved prior to house shopping because it lets them know you are ready to make a deal. This will help streamline your process and help everything to run smoothly.

WHAT DO I NEED TO GET PRE-APPROVED?

  • 2 most recent pay stubs
  • 2 months of most recent bank or asset statements
  • 2 years of most recent federal tax returns
  • Photo ID & Social Security Card
  • Copy of DD-214 or Statement of Service (VA)
  • Current mortgage statement (if applicable)

HOW DO I GET PRE-APPROVED?

Start the pre-approval process through our online application.

APPLY FOR PRE-APPROVAL
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