Is the pre-approval process difficult?

It's not ;)

But it is helpful to know what the process looks like so you can anticipate what a lender will ask for. 

Keep in mind if you are co-buying with friends or family members, that each one of you will be required to submit documents and information for pre-approval.

1. Documents you’ll upload 📑

Documents will vary slightly depending on the lender and your use case, but generally the following are required for W2 employees;

• Previous 2 years tax return
• Previous 2 years W2’s
• Pay stubs from last 30 days
• 2 most recent bank statements
• A copy of your photo ID

2. Personal information you’ll submit 🤓

Just like documents, this might have slight variance depending on lender and use case, but largely requires the following for W2 employees;

• Standard contact info
• Birth date
• Social security number (they need this to check your credit)

3. Document review process 🎯

Once you (your group if co-buying) submit your documents and info to your lender, they will review it and make sure everything is in order before assessing how much you’ll be pre-approved for. This is generally a quick process and can take as little as 24 hours if all of your documents and information are in order. 

Your pre-approval coordinator 👯

Don’t worry! You’ll have a pre-approval coordinator at your side the entire time in case you have questions or trouble finding specific information that is required. They generally respond within a few hours of questions you may have and can generally be reached via email, text, and phone.

‍