Congratulations on your decision to buy a home! Whether you're a first-time buyer, upgrading or downsizing, choosing Capitol Federal® means working with a trusted leader in residential lending.
Pre-Qualification is your first step. It’s a service that estimates what you can afford based on your stated income, assets, and obligations. Based on the information you provide, we will calculate, at no cost to you, an estimate of how much you can borrow and provide you with a Closing Cost Estimate to show you the liquid assets you will need to close a loan. This gives you a clear idea of available loan options, and we can even provide a Pre-Qualification letter if needed.
Ready to show sellers you're serious? Pre-Approval takes it a step further by verifying your income, credit, and assets. All information regarding employment, income, credit, assets and liabilities are verified with supporting documentation and the request is fully reviewed and underwritten by the Bank’s underwriters. A fee is associated with a Pre-Approval; however, a Pre-Approval letter shows you're a committed buyer, helping ensure a smoother closing process with fewer surprises.
Not sure which option is right for you? Contact a CapFed loan professional today and start your home financing journey!
Pre-Qualification | Pre-Approval |
|---|---|
Discuss loan program options | Discuss loan program options |
Discuss income, credit, assets and monthly obligations | Verify employment, income, credit, assets and monthly obligations |
Calculate estimate of home you can reasonably afford | Closing Cost Estimate provided |
Closing Cost Estimate provided | Pre-Approval letter may be provided after request is underwritten |
Pre-Qualification letter may be provided | Pre-Approval fee applies |
To apply online you'll need to have the following information on hand:
- Bank statements (all pages) for the most recent two months
- IRS Form W-2 for the most recent two years
- Name and contact information for homeowner's insurance agent
- Name and contact information for Landlord (if applicable)
- Pay stubs covering the most recent 30-day period
- Year-end pay stubs for the last two years to verify bonus, overtime and/or commission income (if applicable)
- Most recent Pension, Retirement, Social Security or Disability Award Statement (if applicable)
- Most recent statement for all mortgage accounts
- Two months account statements (all pages) for investment/retirement accounts
For Borrowers with Self-Employed Income (Ownership interest of 25% or more in a business):
- Previous two years’ Federal Tax returns, including all schedules
- W-2s and 1099s
- Year-to-date profit/loss statement (signed and dated)
- Previous two years’ corporate/partnership returns, including K-1s
For Borrowers with Rental Properties:
- Previous two years’ Federal Tax Returns
- Lease agreement and the estimated property value for each property owned
- Monthly mortgage statement for each property owned
We may require more documents, depending on your circumstances, but this is a good start to complete the online portion.
Once you have gathered your information, completing your Pre-Qualification or Pre-Approval application should only take a few minutes. If you run out of time, or need to find documentation, you can always save and come back at a later date. We look forward to serving your loan needs.
Mortgage Help Center
Get answers to your mortgage questions and learn more about the home loan process. Plus, determine your ability to buy the home you want with our home mortgage calculators.
The Difference Between Getting Pre-Qualified or Pre-Approved
Thinking About Building or Buying Your Next Home
