Cleveland Home Buyer Education Series: Documents Needed for Loan Pre-Approval
By Chris Olsen, Broker Owner Cleveland Ohio Real Estate
(Olsen Ziegler Realty)
Cleveland Home Buyer Education Series: Documents Needed for Loan Pre-Approval I often get asked by Greater Cleveland Home Buyers:What do I need to do to get pre-approved for a loan? In order for a buyer to write a purchase offer to buyer a home, virtually all sellers will require to know the buyer has the financial capacity to purchase their home. The proof that the buyer has the financial capacity lies in buyer obtaining a verified pre-approval letter.Buyers often ask me what documents do they need to submit to a Mortgage Loan Officer (who can work for a bank, savings and loan, mortgage banker or even mortgage broker) who is responsible who will then collect all the documents, go through a process (oftentimes an automated process) to determine what loan amount the buyer qualifies for....