The Mortgage pre-approval is a vital step in any kind of acquisition such as for home or buying any luxury vehicle. It’s for this that people obtain mortgage pre-approval from the best mortgage company Calgary NE. However, before obtaining the approval, people must conduct a deep research on which mortgage broker is the best for taking the services. Apart from this, a thorough check on the documents needed for pre-approval is also necessary.
1. Employment Proofs
The first and the foremost document that mortgagers always ask for is employment proof. It can include your employer’s company documents, your work history documents for the years you have been working, job title agreement, employer’s contact information and also the dates of employment. You have to provide all these necessary details to your mortgage provider when you seek the lending services.
2. Income Proofs
Secondly, you also have to provide the income proofs for your financial integrity which can include pay stubs, tax returns. Typically, lenders ask for the recent pay stubs to verify that you have stable income and employment. You might also need to provide tax returns for the past two years for the comprehensive view of your financial stability.
3. Any Kind of Debt Obligations
The mortagers can also ask about the debts that you own such as the student loans, credit card debts, car loans or various others. Your previous debts decide your mortgage credibility if you can seek mortgaging services or not.
4. Personal IDs
One also has to provide personal information with verified proofs which can include government IDs like driver license, passport and so on. Apart from this residency proofs can also work like utility bills, lease agreement and so on.
5. Bank Statements
As a part of the process, the lenders will also ask you to provide the bank statements for the last two to three months which will showcase your savings and assets liquidity. The lenders ask for this because they have to become sure if you are qualified to take specified amounts of loan or not.
6. Investment Account Documents
The documents related to all your investment accounts would also have to be provided to the concerned persons to avail loan. This includes statements of your investment accounts, retirement funds for getting the real financial picture of your investments done in the past.
Keep in mind that every lender may have different requirements, so it’s best to speak with your mortgage counsellor or lender for a detailed list customised to your particular circumstances. In the end, having the appropriate paperwork together and being well-prepared creates the conditions for a seamless and fruitful mortgage pre-approval process. And if you are also looking for the best mortgage company Calgary NE, then take assistance from GS Mann who is sole owner of the lending company named My First Home In Calgary.