Pre-Approval

As you search for a home, getting pre-approved for a mor tgage can be an impor tant step to take Consulting with a lender and obtaining a pre-approval letter provides you with the oppor tunit y to discuss loan options and budgeting with the lender; this step can ser ve to clarif y your total house-hunting budget and the monthly mor tgage payment you can afford.

As a borrower, it’s impor tant to know what a mor tgage preapproval does (and doesn’ t do), and how to boost your chances of getting one

• Going through the pre-approval process with several lenders allows a home buyer to shop interest rates and find the best deal.

• A seller of ten wants to see a mor tgage pre-approval letter and, in some cases, proof of funds to show that a buyer is serious

• The first step is filling out a mor tgage application and supplying your Social Securit y number so the lender can do a credit check on you.

• You’ll also need to provide ex tensive documentation of job histor y, assets and liabilities, income tax returns, and more Selfemployed buyers may need to provide additional documentation.

• Af ter reviewing your application, a lender will offer pre-approval or pre-approval with conditions, or deny pre-approval.

Before lenders decide to preapprove you for a mor tgage, they will look at several key factors:

• Your Credit Histor y

• Credit Score

• Debt-To-Income Ratio

• Employment histor y

• Income

• Assets and liabilities

Think of a mor tgage pre-approval as a physical exam for your finances. Lenders will likely poke and prod into all corners of your financial life as a way of tr ying to ensure you’ll repay your mor tgage.

At our first meeting, we will discuss what you’re looking for in a proper t y, your timeline and go over all questions I will then ask you to fill out an intake form that will go even deeper into questions about your home search.

From this information, I will set up a personalized proper t y list based on your criteria. I’ll funnel all proper ties and pick the best to view From this list, you can select homes that you like so we can narrow down the search! I will be sure to notif y you daily of any new proper ties that become active on the MLS that fit your search criteria. With this fast-paced market, it will be impor tant for both of us to keep an eye out for new listings and go see them in person as soon as possible!

It’s a good idea to make a list of 3-6 homes to see at one time in order to make the most of your time during each day of showings It is my job to be ex tremely available to you and flexible when it comes to scheduling showings Your Agent needs to be quick, flexible, available and communicate well in order to find you the per fect home