Getting pre-approved for a Home Mortgage in 5 Steps The best way to smooth out the home buying process is by getting pre-approved for a home mortgage. If you are searching for ‘mortgage company near me’, you will find your local lenders faster.That way, you’ll know how much home you can afford to buy. Here 5 steps to getting that pre-approval: • Employment verification – expect lenders to call your employers. If you’re self-employed, the pre-approval process will be more difficult. • Healthy credit score – most lenders look for a minimum 620 credit score and will run a credit report to verify your FICO score. • Healthy debt-to-income ratio (DTI) – most lenders would prefer a DTI below 35% or 36%, but some will allow up to 45% DTI. • Proof of funding for closing – lenders will want to see if you have the financial means to pay your closing costs and down payment. • Proof of income – includes 2 years of income tax returns, 2 years of W-2’s, proof of bonuses or other income, recent pay stubs, and year-to-date income. Getting pre-approved for a home mortgage can be a very exciting time in one’s life. Just don’t get so excited that you accept what you’re initially offered. It’s important to shop around and ensure that you get the best possible interest rate on a home loan. Remember to be patient so you can lock in the best rate. https://www.google.com/maps?cid=11477635944718278118