Pre-Approval Preparation 

Before you request pre-approval with our loan application, it will help tremendously if you gather the following information for all borrowers:

Personal Identification
  • Full name
  • Social security number
  • Birthdate
  • Years in school (HS = 12, Assoc, = 14, Bachelors = 16)
  • Marital status
  • Ages of dependents
Current Contact Information
  • Home, work, or cell phone number
  • Email address
  • Current home address
  • Lease expiration date (if renting)
  • Previous addresses (go back two full years)
Employment Information
  • Name of employer with address and phone
  • Current position/title
  • Dates employed and years in the same line of work
  • Gross monthly income (before any deductions)
  • All of the above to go back two full years
  • Other income including social security, VA, etc.
Current Housing Expense
  • Amount of current rent or mortgage payment
  • Amount applied to property taxes (monthly or annually)
  • Amount applied to hazard insurance (monthly or annually)
  • mount paid monthly for renter's insurance (if applicable)
  • Amount paid monthly for homeowner's association dues
Refinance Loans Only
  • Original cost of property
  • Month and year acquired
  • Current estimated value
  • Current mortgage balance
  • Current interest rate and terms
  • Prepayment penalty (if any)
  • Purpose of refinance loan
  • If cash out, amount needed/desired
Asset Information
  • Checking accounts (bank name and current balance)
  • Savings accounts (bank name and current balance)
  • Investment accounts (company name and current value)
  • Vested retirement (company name and vested value)
  • Automobiles (year, make, model, and estimated value)
  • Life insurance (company name and estimated cash value)
  • Other assets (description and estimated value)
Real Estate Owned (if applicable)
  • Property address
  • Estimated market value
  • Current mortgage balance and monthly payment
  • Current property tax payment and hazard insurance payment  
  • Gross rent and occupancy rate (if investment property)
Current Liabilities (skip if on credit report)
  • Auto loans (company name and minimum payments)
  • Credit cards (company name and minimum payments)
  • Student loans (company name and minimum payments)
  • Child support or alimony (monthly payment and months left)
  • All other liabilities (description and minimum payments)

Once you are prepared with the information above, you are ready to complete a loan application to start the pre-approval process. Click here to get started!  Click here for a printable version of this page.

Contact us if you have any questions whatsoever.

   

Chad Bowman
Mortgage Broker #74698
(512) 646-0800

Email Chad

Veteran Owned & Operated
© 2004-2009 Bowman Finance, LLC

Bowman Finance
7217 McNeil Drive
Austin, TX 78729

Directions

Bowman Finance does not provide tax or legal advice under any circumstances and always
recommends you consult with a licensed tax advisor or licensed attorney for such advice.