Pre Approval Checklist

Home Buyer

🏠 Personal Identification

  • Government-issued ID (Driver’s License or Passport)

  • Social Security Number

💼 Employment & Income Documentation

  • Most recent 2 pay stubs (covering 30 days)

  • W-2 forms for the past 2 years

  • Tax returns (1040s) for the past 2 years

  • Year-to-date income if commission/bonus-based

  • Employment verification (HR contact or employer letter if newly employed)

💳 Credit & Debt Info

  • List of monthly debt obligations (student loans, auto loans, credit cards)

  • Explanation of any late payments, collections, or derogatory marks

🏦 Bank & Asset Documentation

  • Last 2 months of bank statements (all pages, all accounts)

  • Retirement or investment account statements (401k, IRA, brokerage)

  • Proof of gift funds (if applicable) + gift letter

🏡 Property Info (if already identified)

  • Copy of purchase agreement

  • Real estate agent’s contact info

📋 Additional Documents (if applicable)

  • Divorce decree or child support orders

  • Bankruptcy discharge documents (if within past 7 years)

  • Immigration/residency documentation if not a U.S. citizen

📝 Notes for Buyers:

  • Make sure all documents are legible and unaltered.

  • Avoid large, unexplained deposits or credit inquiries before closing.

  • Stay employed and avoid financing new debts/ opening new credit cards until you close.

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Investors

📇 Personal & Entity Identification

  • Government-issued ID

  • Entity docs (LLC/ Corp. operating agreement, EIN letter, Articles of Incorporation)

  • List of owned properties + rental income documentation

💰 Income & Tax Returns

  • Last 2 years of full tax returns (personal + business if applicable)

  • Schedule E showing real estate income/losses

  • K-1s, 1120s, or 1065s (if owning through partnerships/corps)

  • Year-to-date Profit &Loss (if self-employed)

🏦 Asset Documentation

  • 2 months of bank statements (personal & business)

  • Proof of liquid reserves (often 6–12 months of PITI for each rental)

  • Retirement/investment statements for liquidity

📉 Credit & Liabilities

  • Existing mortgage statements for current properties

  • Lease agreements or rent roll

  • Property tax and insurance info on existing rentals

📑 Property Details (if applicable)

  • Purchase contract (if property already under contract)

  • Rehab budget or scope of work (if it's a fixer)

  • Appraisal (if already completed)

📋 Additional Documents

  • Exit strategy (flip, BRRRR, long-term rental)

  • Rental income worksheet (showing cash flow)

  • Business plan or portfolio overview (for larger projects)