mortgage home loans - Peoples State Bank Wisconsin

pre-approval program

Our preapproval program allows you to shop for your dream home with confidence, knowing the price range for which you qualify. As a preapproved homebuyer, you’ll also look much better to potential sellers, which can give you some added clout when it’s time to negotiate price.

The process of getting pre-approved is actually quite simple. All you have to do is provide us with some documentation. Be prepared to supply your Peoples loan representative with pay stubs, bank account statements, tax returns and W-2 forms from the previous 2 years, and documents to show other sources of income (which could include a second job, overtime, commissions and bonuses, interest and dividend income, Social Security payments, VA and retirement benefits, alimony, and child support)

Getting pre-qualified is an informal process in which you are interviewed by a mortgage professional about your income and expenses. This gives you a general idea of the price range you can afford. It really doesn’t bring you any closer to securing a mortgage.

When you are pre-approved for a mortgage, it means that a lender has looked closely at your credit report, your employment history and your income and has then determined which loan programs you qualify for, the maximum amount that you can borrow, and the interest rates you will be offered.

What to Bring With You

  • Most Recent 30 Days of Paystubs
  • Most Recent 2 Years of W-2 Forms
  • 2 Months Statements From Deposit Accounts

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