What You Need To Get Pre-Approved for a Mortgage

What do you need for a pre-approval?
In general, when you're getting a pre-approval, it differs whether you're w2 or 1099. If you're w2 income, you need two years' tax returns, two years' w2s, two months' bank statements from all of your accounts inlcuding investment accounts, and two months' pay stubs. Put all of that together plus a couple of little things, you get yourself a pre-qualification.

If you're 1099 income, you need your two years tax returns and your two months' bank statements. You will eventually, most likely, need a Profit and Loss Statement (P&L) and a balance sheet as well. Those are the things that are needed to get pre-qualified in today's real estate market. Check with your lender to see if there are any other needs.

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