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Application Checklist For Pre Approval

A pre-qualification provides an estimate of your borrowing power based upon summary information you provided on your household income and assets. The downside is it requires a more detailed satisfactory review of property, financial documents and program requirements to issue final approval, which means you're shopping without a "True" loan in hand.

This can be a very devastating experience should you find that dream home that you simply can't qualify for

A pre-approval provides proof to real estate agents and sellers that you're approved for a specific loan amount by an underwriter.

Typically, the approval is based on a verification of your income, credit and assets (in some cases, verification may not even be necessary dependent upon you loan program). The beauty of a pre-approval is 70% of the loan process is completed at the time of issue, so while you are awaiting the approval, you can be gathering a better idea of the options you'd like to have in your new home.

Typically, by the time you have decided on the qualities of the home you'd like to buy, you'll have your pre-approval in hand and will find yourself much better prepared. This makes for a much more relaxed, and much more enjoyable home buying experience.

At Twin Palms Realty Inc , we believe buying your home should be a pleasure, not a chore.

What our pre-approval process typically leaves is; a satisfactory appraisal, any outstanding underwriting conditions, title review and no change in financial condition for final approval and closing. The best part is, it's a not cost option to you. To have a loan representative from our Lending Partner contact you, just complete our short application.

Purchase Documentation:

  • Purchase Agreement. (If you have contracted on a home)
  • Copy of MLS Sheet and Legal Description of the property. (If you have contracted on a home)
  • If selling your current home, copy of listing agreement.
  • If your present home has already been sold, copy of your closing statement.
  • If you have made any large deposits to any of your accounts within the last 90 days, an Explanation and source for deposited funds.
  • If using a gift for downpayment or closing costs, a signed gift letter from originating party (If Private Party), copy of cleared check and a copy of the deposit receipt.
  • If you own more than 25% of a business you will need to have your corporate or partner tax returns for the last two years.
  • If you own rental property, you will need to provide all schedules in your tax returns in addition to copies of current lease agreements.
  • If you collect a Pension or Social Security and are using the income for qualification, you will need to have copies of the applicable award letter.
  • If collecting child support and using this income for qualification, you will need to provide a copy of the court order and proof of 12 month s of payment either via copies of the checks or a child support statement printed out by the local courthouse.

Using the form manager below, select the loan type you will be using to finance your home to gather the remaining documentation you'll need to have. The typical loan documentation required during the application process will display in the answer box:


Select Your Loan Documentation

Select A Loan Type:

Your Selection Will Appear Here:






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