Common Documents Required For A Mortgage Pre-Qualification Letter

Even though many lenders are still quoting quick 10 minute pre-qualifications over the phone or online, a true mortgage approval that holds any weight is one that has been issued by an underwriter who has had an opportunity to review all of the necessary documents.

With a constant stream of new lending guidelines, volatile mortgage rates and tightening regulation from Washington, very few real estate agents will show new homes to a First-Time Home Buyer without at least a pre-qualification letter.

A Pre-Approval Letter will help you in three ways:

It’s obviously a good idea to get your paperwork prepared ahead of time so that the pre-approval process is as thorough as possible.

In order to get a pre-approval letter, you’ll start by filling out a loan application and submitting a few documents for the loan officer for review. All Builders Funding Corp loan officers have decades of experience and are available 7 days a week.

Common Loan Pre-Approval Documents:

Income / Assets for Wage Earner:

  • Last 2 year W2’s and all pages of Federal Tax Returns (no state returns required)
  • 2 most recent Pay Stubs covering a minimum 30 day period
  • 2 most recent Bank Statements, 401(K), Liquid Assets, Investment Accounts (all pages all accounts even if nothing is on that page)

Income / Assets for Self-Employed:

  • Last 2 year Tax Returns – Business and Personal (Federal only and no State returns required)
  • Last Quarter P&L Statement

Letter of Explanation For:

  • Employment Gap or New Line of Work
  • Late Payments / Judgments / Bankruptcy on Credit Report


  • Bankruptcy Discharge
  • Child Supporting Documentation
  • Lease Agreements (If own other Rental Properties)
  • Mortgage Payment Coupons and copy of the Insurance Declaration Page (If own other Real Estate)


Most borrowers also want an opportunity to learn more about the loan officer before digging up all of these personal documents. Spend a few minutes on the phone asking the loan officer to explain how mortgage rates work, quizzing them on some basic industry vocab or just to see if they know what to prepare your agent for ahead of time. The Q&A session can be more than just a mortgage broker qualifying you, as long as you’re prepared to ask the right questions.

Either way, you’ll definitely want to have the above list of approval documents ready once you’ve decided on the right loan officer that you trust will meet your expectations.


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