A pre-qualification letter states that you meet basic financial criteria, usually based on the borrowers word. A pre-approval statement from a lender indicates that the broker has evaluated your assets, debt, and credit history to determine whether you can qualify for the loan.
Los Angeles is a highly competitive real estate market. If your goal is to finance a home purchase, a mortgage pre-approval from a lender is vital, especially when your up against multiple buyers.
We pride ourselves in being available around the clock to help you at your greatest convinence. The team at Park Place Financial understands that real estate doesn’t take days off. We are available when you need us.
In addition to completing the online loan application & borrowers’
credit authorization, we usually need the following:
Proof of Income
Salaried Employees:
Self-employed:
Proof of Assets:
At least two months of your most recent statements, including:
Recent Property Bills
If you own any 1-4 unit properties, we need the most recent bill and or statement :
For condo/townhouse owners, we need the HOA / Management companies name as well as contact information.
Misc. Documents