Here is a layout of when in the process the buyer might be requested that give extra data, documentation or elucidation. There are 5 particular strides all the while: 1 – Pre-Approval. At this stage the Loan Officer will require that the buyer give all wage and resource documentation to decide mortgage capability. This incorporates: A credit report W-2's Pay stubs Latest Federal Tax return 2 Months of bank and speculation explanations Credit will be checked on. The loan information will be put through guaranteeing and a pre-endorsement will be issued. Since it can be weeks or even months from the time the borrower is pre-affirmed to the time there is an acknowledged offer on a property the loan officer ought to address anything that surfaces on the credit or in other documentation and teach regarding what will be required once the loan is going "live". 2 – Full Application. Presently the loan is ...