Take the First Step to Homeownership

Are you planning to purchase your first home? Getting pre-approved with a reliable lender is the first thing you need to do to begin the process of buying a new home.  Why, you ask?  You need to know how much house you can comfortably afford, and your pre-approval will let sellers and their respective real estate brokers know that you've got your finances in order.

Filling out a loan application is the first step in getting your pre-approval. You should be prepared to provide proof of your financial history, including your income, assets, and obligations with your trusted lender.   Here's a list of what lenders will request from you in order to get you pre-qualified:

• Identification – Driver's License, Identification Card, Passport, Concealed Weapons Permit, Military ID 
• Last 30 Days of Pay Stubs – If applicable
• Last Two (2) Years W-2s – If applicable 
• Last Two (2) Years 1099s – If applicable
• Last Two (2) Years Personal Tax Returns – If applicable
• Last Two (2) Years Business Tax Returns – If applicable 
• Last Two (2) Months Bank Statements

Why do you need to do this before you start looking for a new home? Here's our top reasons why getting pre-approved in advance is a must:

Be Seen as a More Powerful Buyer

Sellers and their respective Real Estate agents will take your offer more seriously if you are pre-qualified and backed by a reputable lender.  You pre-approval letter will accompany any offer you make and lets the sellers know that a lender has already reviewed your financial background and determined that you have the means to afford the home you are making the offer on.

Saving Yourself Valuable Time

Getting pre-approved will save you precious time by determining up front how much you can comfortably afford to spend on your new home so we can tailor your home search to share homes with you that 

Better Negotiating Power

Getting pre-approved for a mortgage provides a person bargaining leverage because they already have mortgage financing in place and can make an offer to the seller of a home they like. Otherwise, the potential buyer would have to apply for a mortgage before making an offer, risking losing the chance to bid on a house.

Reduce Unforeseen Issues

Speaking with a trustworthy lender upfront will help ensure that you are not caught off guard when it comes time to make your offer.  The process of buying a home and moving is one of the most stressful life events that people go through.  Getting prepared in advance will reduce the chance that you encounter unanticipated surprises such as a poor credit score or a less-than-ideal debt-to-income ratio.  

Ability to Close Quickly

Getting pre-qualified will help to speed up the process of closing on your new home, since your lender will have already collected the required documentation from you.