Do you wish to buy your first home? We understand that acquiring your first home is a significant milestone, representing one of the most significant steps you'll take in your life. Becoming a homeowner is a life-long dream for many American and Latin Community. However, like any new endeavor, it's natural to experience uncertainties and occasional self-doubt along the way.

Pre-Approval Mortgage

Getting pre-approval is one of the best things you can do to simplify the process and give yourself more confidence in your buying power. A pre-approval lets you know how much you are able to borrow with minimal risk. However, as with anything to do with mortgages, you'll want to understand the pre-approval process before you get started.

We have an excellent relationship and can referred you to several brokers and lenders

Understanding the Process

In order to get pre-approved, the mortgage lender you apply for a pre-approval with will have to review the following factors from your financial situation:

  • DTI (debt-to-income) ratio
  • LTV (loan-to-value) ratio
  • Credit history
  • Credit score
  • Income
  • Employment history

Required Documents for Pre-Approval

  • 30 days of pay stubs
  • 60 days of bank statements
  • W-2 tax returns from the previous two years
  • Schedule K1 (Form 1065) for self-employed borrowers
  • Income tax returns
  • Asset account statements (retirement savings, stocks, bonds, mutual funds, etc.)
  • Driver’s license or United States passport
  • Divorce papers (if applicable)
  • Gift letter (if a family member is making a contribution to your downpayment)

Types of Mortgages

Our available options include conventional loans, FHA loans, VA loans, fixed-rate loans, adjustable-rate mortgages, and jumbo loans. Each type of mortgage loan has distinct criteria for loan amounts, mortgage insurance, interest rates, and may require specific down payment requirements.