Getting Started
Getting Pre-Qualified
The first step in the loan process is to become pre-qualified. This means, a lender will gather basic information and give you an initial prequalification letter that outlines what the bank will be able to lend you.
Pre-Qualification Information Needed:
- Name
- Date of Birth
- Social Security Number
- Income/Debts (excluding monthly bills)
Pre-Approval/Approval
Once you are pre-qualified, you will know how much home you can afford. The next step in the lending process is an approval. The approval will typically come after you have already signed a contract with Southern Homes. This way, you can lock in your price, lot, and home while you are working with the bank.
Pre-Approval/Approval Info Needed:
- All information from Pre-Qualification
- Last 2 Years of Tax Returns and W2's or 1099's
- Last 30 Days of Paystubs
- Last 2 Months of Bank Statements (all pages)
- Copy of Driver's License & Social Security Card
- All other documents required by the lender
