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Pre-Qualify Today

Thinking about purchasing a home?

Now you can compete with other buyers with
DLJ Financial’s “A-HA” Program (Advanced Home Approval).

Want your offer to be seen with the highest level of integrity?
Or, want to know your max buying power before you shop for a home?

Trust us, you want the seller of the home to understand how serious you are by showing them you have gone through the proper steps to make sure the buying of their home is stress free and all imperative dates are met: appraisal contingency, financing contingency, and most importantly-closing on time.

Pre-Qualification

A pre-qualification is designed for buyers who are in the initial stages of the home buying process. This is a quick conversation with your Senior Mortgage Banker and is mostly done via phone with no confirmation of documentation. This is merely gathering a snap shot or estimate of your debt, income, credit and down payment estimates. Gathering this can be as easy as a 5-15 minute call with your Senior Mortgage Banker.

 

Pre-Approval

– A pre-approval is designed for buyers who are more serious in buying a home. A pre-qualification is reviewed by your Senior Mortgage Banker and DLJ Financial’s internal Underwriting Department. This pre-qualification can help better determine your maximum purchase price with different down payment schedules. Your income, down payment requirements, credit, and debt are all reviewed and a clearer understanding of next steps is determined.
– Typically your credit, income, and debt are reviewed much closer in a pre-approval. We want your chosen real estate professional to understand you have completed the proper steps and gone through the proper channels to become pre-approved. Sometimes, your chosen real estate professional may want an automated underwriting.

Advanced Home Approval Program

We want to help you maximize negotiation and purchasing power. We can help you compete intelligently for your future home with the A-HA program. This is the recommended and optimal approach for clients that are certain they will buy a new home. In these scenarios, The A-HA clients are reviewed by DLJ Financial’s Senior Mortgage Banker, Internal Underwriting Department, and the actual Financial Institution/Lender that will complete the financing for the client. A specific property address is not needed, but the type of home and set up of financing should be clear. This type of review ensures the highest level of success and tends to eliminate any potential doubt. Also, this tends to keep everyone involved ahead of schedule because most of the “formal” underwriting review is done before a home is actually determined.

Required Documents

-Paycheck stubs for most recent 30 days
-W2s for last 2 years
-Most recent 2 years of 1099s for pension or social security
-Most recent 2 years of complete 1040s
-Most recent 2 years of 1120 or 1120S or 1065 returns if self-employed please include the K1s
-YTD Profit and Loss for all owned businesses
-Down payment source: Most recent 2 months bank statements ALL PAGES for down payment, closing costs and reserves
-Mortgage statements on financed properties
-Proof of homeowner’s insurance declarations page on ALL owned properties
-Property tax info for ALL owned properties
-Copy of Social Security card(s) for all borrower(s) on the loan
Along with the list of the documents obtained from you, the underwriter will evaluate your credit as well as other information provided on the 1003 application form discussed with your Mortgage Banker.