No matter how many times you do it, buying a home is a major financial and emotional event. I work very hard to help ensure that the entire home loan process is stress free for you. Together we can review the long-term ramifications of financing options by intelligently evaluating different strategies long before you make an offer. This is best done with a pre-qualification meeting.
I will gather information from you about your income and debts and make a preliminary financial determination about how much house you may be able to afford. I will order and review your current credit report to do this, and use the information that you provide about your income, employment, assets, and liabilities in order to pre-qualify you. And so the pre-qualification is only as good as the information that you give, and is subject to verification of that information during the formal application process. A Pre-Approval requires that you provide a few basic documents – such as a recent pay stub, last year’s W-2, and a bank statement. The documents needed will vary depending on
your particular situation, but you can get a good idea of what is needed for a pre-approval by clicking here.
It’s a good idea to know how expensive a home you can afford before you start shopping for one -so you don’t waste time looking for properties that are out of your budget. A pre-qualification meeting will help with this. We can begin to discuss options that are tailored to your unique financial situation – which can help to limit your stress level during this major life event.
If you can provide a pre-qualification letter with your offer to purchase, real estate agents and sellers will take your offer more seriously, because you have already taken steps to obtain financing with a lender, and a lender has already found a loan that works for you. A pre-qualification letter may sway a home seller to negotiate with you as opposed to another buyer who is not pre-qualified. And you will be in a position to close more quickly and smoothly, since you already know what will be required to get your loan approved.