Hey! It’s Ken Crifasi, Boulder County Realtor and owner of K&A Properties. I’ve been getting a lot of questions from home buyers about home loan pre approval. Being a Realtor, not a loan officer, I can’t legally pre approve anyone for a home mortgage. However, I can certainly hunt down some information to help you out! To figure out exactly what the current process of getting a mortgage in Boulder County is like I went to one of my favorite lenders – Ian Bennet from Premier Morgage Group.
Ian Bennet has been in the home mortgage business for a decade and currently conducts his mortgage magic from Premier Mortgage Group’s Boulder office at 1844 Folsom Street. He has done such a great job mastering his art that we asked him to spend half of his week in a second office at our Boulder Keller Williams. Ian has extensive knowledge in providing home loans to Boulder County residents, from the highest-end buyers to those of you that are trying to purchase your first condo. I like to kid Ian about how nice it is that he is an expert at financing condo purchases because many mortgage lenders would rather avoid them. They can be challenging and sometimes its hard to justify the time commitment. Ian, thanks for rolling up your sleeves every time we ask!
You can reach Ian by phone at 303-443-2050 or by email at email@example.com
So I asked Ian what the home loan pre approval process was like now-a-days and he directed me to this. The Perfect Loan Application. For detailed information, follow the link. I put together the most important points below.
Here is the bullet point home loan list:
Employment & Income
1. 2 years employment history including job titles, dates of employment, employer’s address and phone numbers
2. Letter of explanation of any changes in employment of the past 2 years.
3. Pay stubs for the most recent 30 days.
4. Copies of W-2s for the last 2 years.
5. Copies of federal, personal and business tax returns for previous 2 tax years.
Your Residence Information
6. 2 years residence history including addresses, dates, and phone number for landlord if renting.
7. If you currently own a home, please provide the most recent mortgage statement.
8. Name and phone number of your homeowners insurance agent.
Bank & Other Statements
9. Most recent 2 months or quarterly bank statementsfor all checking, savings and investment accounts.
10. Most recent 2 months 401k/Retirement statements.
11. Copy of Earnest Money check when it clears your bank account, along with most recent bank statement showing check clearing. (Only applies if you are already under contract to purchase a home)
12. Non-Payroll deposits – it is necessary to verify the source and receive explanation for non-payroll deposits to your accounts, including any transfers between accounts. Please make a copy of any check you deposit.
If Applicable to You, the Below Items May Be Needed
1. Complete Divorce decree and/or separation papers.
2. Alimony/Child Support income: proof of receipt may be required.
3. Bankruptcy Discharge papers.
4. If receiving Retirement or Social Security Income: Award letter and proof of receipt may be required.
5. Attention: Gifts
If any portion of your down payment or closing costs is coming in the form of a gift, please notify your lender because the documentation required for gifts is fairly comprehensive.
6. VA loan: DD214 and Certificate of Eligibility.
If you have questions about home loan pre approval in Boulder County or any other parts of the home buying purchase you can always contact me at 303-956-1771 or KenCrifasi@kw.com. I’d be happy to talk you through any questions or concerns you have.
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