Does anyone know how far the bank looks back at income to be pre approved for a mortgage? Thanks girls
Soon2bShea
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Re: NWR: Preapproval question?
I got out of the mortgage industry right before things went downhill, so my info. is probably out dated but it used to be at least a year (some banks wanted 2 years). Usually wanted to see last years tax return and a few months of recent paystubs. Some banks called employers to verify employment and income, etc.
Not sure how things have changed since the economy fell apart!
hth
MrsJ08
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Re: NWR: Preapproval question?
We just did our pre-approval and they asked for our 2007 and 2008 taxes..HTH
geegee827
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Re: NWR: Preapproval question?
for pre-approval, we weren't asked for any info other than current income, length of employment, and they ran our credit.
Once we actually find a house and apply for the actual mortage, they will ask for copies of our last 2 years taxes and pay stubs for this year.
MrsDR2010
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Re: NWR: Preapproval question?
Posted by Soon2bShea
I got out of the mortgage industry right before things went downhill, so my info. is probably out dated but it used to be at least a year (some banks wanted 2 years). Usually wanted to see last years tax return and a few months of recent paystubs. Some banks called employers to verify employment and income, etc.
Not sure how things have changed since the economy fell apart!
hth
Thats what FH and I did last year so it should still be current unless it changed since last summer
ANT-N-BON-09
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Re: NWR: Preapproval question?
2 years for ours
Angel06
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Re: NWR: Preapproval question?
Great, this really helps, thanks girls!!
stinenandy2010
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Re: NWR: Preapproval question?
They will ask for the past two years tax returns and W-2's as well as the most current paycheck stub.
Itsallhappening
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Re: NWR: Preapproval question?
We got pre-approval from wells fargo over the phone...all they needed was our SS#'s and income etc...they dont really look much for the pre-approval.
