Step 2: Obtain a Mortgage Pre-Approval Letter

Once you’ve found a Realtor, the next step to buying a home is to get pre-approved by a mortgage lender. It is important for you to understand how much you can afford, what interest rate you qualify for, and how much you might expect to pay each month in payments. A responsible Realtor will not put in an offer on a home until the client has been pre-approved.

It is extremely important to use a good mortgage lender to ensure a smooth transaction and decrease potential problems with your financing.

Omaha Home Equity Group Recommended Lenders:


Brent Rasmussen

Mortgage Specialists, LLC




Kristi Lyons

First National Bank of Omaha




Angie Brookhouser

First National Bank of Omaha



1.  Paperwork You Need To Gather

  • A completed application. The lender will provide this to you.

  • The two most recent months (or a quarterly statement) of any asset information listed on the application.  Generally: checking, savings, 401k, mutual funds, individual stock accounts, IRA’s, etc.

  • Most recent month’s pay stubs

  • Past two year’s W2 forms

  • Past two year’s  U.S. Tax Returns

  • Corporate Tax Returns (if applicable)

2.  Obtaining a Pre-Approval Letter

  • Once you submit your paperwork, you should receive a pre-approval letter within 1-2 business days.

  • Ask your lender to show you what that pre-approval amounts to (in terms of a monthly mortgage payment plus any private mortgage insurance, taxes, and home insurance).

  • Once you’ve received your pre-approval letter, forward it to us for your file.

3.  Obtain a Loan Estimate and Understand Your Closing Costs

  • Within three days of receiving your pre-approval, mortgage lenders are required to provide you with a Loan Estimate (LE) which provides an estimate of the closing costs and fees your mortgage lender will charge you.

  • Generally, closing costs and prepaids total approximately 3.5%-4% of the purchase price of the property.  This amount will be due at closing in addition to your down payment. We can also ask the seller to pay costs on your behalf at closing.

Questions?  Feel free to contact us at 402-415-4799 or via


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