Whether you're buying your first home or the home you've been searching for your entire life, pre-qualifying for a home loan is an important step in the homebuying process. To help simplify this process, Harmony Homes recommends using one our preferred lenders to assist you.
You begin by submitting a mortgage pre-qualification from one of our preferred lenders. The lender will review basic credit and income information to give you an estimate of the loan amount you will qualify for. Once you choose a home and enter into a purchase contract, you begin the next stage of financing. The mortgage process begins with a full loan application and more detailed credit history. The lender will advise you of the specific mortgage options available to you so you can decide on the best loan for you.
To expedite the loan approval process you may want to be prepared with the following documentation that may be requested by the lender:
Verification of income
- Earnings statements: W-2 forms, recent pay stubs and tax returns for the past two years
- Additional income: social security, overtime bonus, commission, interest income, veteran's benefits etc.
- Verification of your assets
- List of bank account numbers, the address of your bank branch, checking and savings account statements for the previous 2-3 months
- List of savings bonds, stocks or investments and their approximate market values
- Credit card bills for the past few billing periods
- Other consumer debt such as car loans, furniture loans, student loans and other personal and co-signed installment loans with creditor addresses and phone numbers
- Proof of Bankruptcy Discharge if applicable