It’s time to get a mortgage to purchase a new home! So, how exactly can you get the right loan for your needs?
You should begin the process of getting the mortgage with Black Diamond Mortgage as early as possible. Don’t wait until you’re about to sign to secure the loan. Don’t pick out a house and then contact Black Diamond. The earlier you get in touch with us, the smoother the process will be.
A step that is crucial in purchasing a home is getting pre-approved. It gives you more power to negotiate, and gives you more peace of mind – knowing that you can have the funding for your dream home.
So how does one get pre-approved for a loan? It is a simple process that involves you securely uploading important documents.
We will need the following:
- Asset Verification
- We will need to know how much capital you have. This is accomplished through bank statements.
- Income/Employment Verification
- We need to know how much income you make. If you submit W-2’s from the previous two years as well as pay stubs from the current year, that will satisfy the income verification. If you are self-employed, we will need tax returns from the previous two years.
- Credit Verification
- We will do a hard pull of your credit score. The higher your score is, the better odds you will have at being pre-approved. You will also have a lower interest rate with a higher score.
- Identifying Documents
- We will need a scan of your driver’s license or passport. We will also need your social security number and signature to authorize the process.
If you submit these documents, we can help you get pre-approved for a mortgage loan! Contact us today for more information!