You’ve made an offer — you’re almost there.
In your excitement don’t forget closing costs. Set funds aside to cover these before signing!!
Need more information? Call me anytime to discuss.
When you want to buy something, it all comes down to money. Therefore, I recommend that your home buying experience starts with Pre-Approval. Understanding your finances will help focus your efforts for everything else after. Don’t get the cart in front of the horse and the process at an open house, as that typically ends in heartache. Here are some benefits of pre-approval and what you will need to get pre-approved.
• Discuss and learn about loan options and budgeting with the lender.
• Run a check on your credit and alert you to any problems.
• Informs you of the maximum amount you can borrow, which helps set a price range for your search.
• Allows you to make an offer instantly.
• Sets you above the competition without pre-approval.
• Legitimizes your offer, as sellers will be more willing to negotiate with you knowing you can obtain financing.
• Lock in your loan and Rate for 90 days to protect you against market changes.
If you are not quite ready to commit, a Pre-qualification might be a better route to go, as this will give you an idea of what you can afford and help with your home search, without the credit and financial check.
Items needed for Pre-approval:
• Proof of income
• Verification of employment
• Proof of Assets
• Credit check
• Identification – Social Security #, driver’s license, and current address
Keep in mind that different lenders will pre-approve you for different amounts, so if you are looking for some guidance as to which lender to do this with, I have a few recommendations for lenders that I’ve worked with in the past and trust.
I’m always available for any questions you might have, so don’t hesitate to give me a call, text, or shoot me an email!
Intero Real Estate