Getting Started
Pre-Qualification
Pre-Approval
Documentation

Getting Started
Pacific Estates Mortgage, Inc. understands the vast amount of forms and documentation needed to qualify for a home mortgage. This process can be overwhelming and somewhat confusing at times. We have taken the traditional process and streamlined it to make the entire prequalification and pre-approval process less daunting. Knowing your ability to purchase and qualify for a home mortgage will allow you to focus on the most rewarding part of the whole process, Home Shopping! With the following steps you will be on your way in no time buying the home of your dreams!

Pre-Qualification
This is the information gathering stage and is traditionally the most frustrating. With Pacific Estates Mortgage, Inc. and the wide variety of lenders we are approved with, the information necessary for us to qualify your specific scenario can be reduced tremendously. In as little as 10 minutes we can provide you with an estimate of monthly payments that will really help you identify “how much” home you should be looking to buy. The pre-qualification does not to commit you to a loan but rather give you an idea of the different types of lending solutions available to your specific qualifications. As the process advances we will revisit all of the appropriate lenders to ensure we have secured the best possible financing for you needs.

Pre-Approval
Pacific Estates Mortgage, Inc. Pre-Approval is the tool needed to ensure your agent that you have been qualified to purchase a home and the Pre-Approval will solidify any offer you make on a house. Most listing agents will require a Pre-Approval in order to review you offer with their clients and submitting the Pre-Approval in conjunction with your offer, will expedite the time for the acceptance of your offer. The Pacific Estates Mortgage, Inc. Pre-Approval will be customized to the specific offer you are making and can be provided in just a couple of minutes after you have identified the home that you are making planning to make the offer on.

Documentation
The following documentation is typical of what the lenders will require to bring your home loan to close. The following items are standard and additional documentation may be required for your specific scenario. This documentation is not necessary to start the qualification process but you should be prepared to provide it as some point.

• Income documentation (last two W2s and Tax Returns 2 years)
• Bank Account(s) statements (2 months)
• Current Rental or Current Mortgage Information (Landlord information or Statement)
• 401K or Investment Account information
• Copy of Drivers License and Social Security cards (all borrowers)
• Self Employed (2 years business license or Letter from a CPA with 2 years history)

This documentation may or may not be required depending on the lender you choose to work with. It is a good idea to prepare to provide it though.

Pacific Estates not only wants to ensure that you are buying the right amount of home but, we also want you to understand how the entire process of qualifying works along with all of the lending options available to you. The more our clients know, the better prepared they are for the biggest investment they will most likely make in their life! Call a Pacific Estates Mortgage, Inc. professional today to learn more about the entire process and what the expectations should be for anyone who is looking to become a home owner.