Guide to the Mortgage Pre-qualification Process in Florida

The Truth About Lending

Welcome to this week's session on navigating the mortgage pre-qualification process! I'm Melinda Payan, proud owner of The Truth About Lending, and I'm thrilled to have you join us for this crucial discussion.

In today's session, we're unraveling the mystery behind getting pre-qualified or pre-approved for a mortgage. What exactly does that entail? How do you embark on this journey? And most importantly, how can we offer our expertise to guide you every step of the way?

Understanding the pre-qualification process is paramount in your mortgage journey – it lays the foundation for your success and ensures a smooth ride without any surprises down the road.

When it comes to filling out the application, typically done on our website, it's imperative to provide accurate information. Rest assured, the application stays with us initially, allowing us to thoroughly review it with you. Whether you prefer online submission or assistance over the phone, our team is here to facilitate the process seamlessly.

Once we have your application in hand, we'll assess if any additional documentation is required. For instance, if you receive bonus income, overtime, or commissions, we may need a Verification of Employment to accurately determine your income history. Addressing these details upfront minimizes surprises during the underwriting process.

Following the application, we'll request certain documents based on your employment status. Salaried individuals will need to provide the last two years of W-2s, while those with rental properties or self-employment will have specific documentation requirements tailored to their situation.

Join us as we demystify the mortgage pre-qualification process and equip you with the knowledge to embark on your homeownership journey confidently.

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