: Much of the heavy lifting regarding your finances is done upfront, leading to a smoother final underwriting process. Common Pitfalls to Avoid
: In competitive markets, sellers often won't even look at an offer unless it's accompanied by a pre-approval letter. pas requirements home buying
: Lenders often call your employer to confirm your current position and salary. If you've recently changed jobs, they may look for a consistent history in the same field. Why PAS is Essential : Much of the heavy lifting regarding your
: It prevents you from falling in love with a home that is financially out of reach. If you've recently changed jobs, they may look
for the last 60 days (checking, savings, and money market accounts). Investment statements (401k, IRA, or brokerage accounts).
To obtain a pre-approval, lenders generally require documentation and proof across four main categories: