What The Lender Looks at to Provide Mortgage Preapproval
Posted on
January 16, 2022
by
SusanKramm.com
What The Lender Looks at to Provide Mortgage Preapproval
In order for the mortgage lender to provide a preapproval letter, they will need to do some due diligence on your financial health. You can expect your loan officer to research the following information:
- A detailed look at your credit history
- Your current credit scores
- Your current debt-to-income ratio
- Employment history
- Your present income
- Assets including savings accounts and liabilities including debts such as credit cards, car loans, child support, and other personal loans.
- Recent pay stubs
- Your tax returns
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