5 THINGS YOU NEED TO GET PREAPPROVED

Don’t skip this crucial step!

Today, we’re talking all about the pre-approval process, which determines what homes you can afford.

What does it mean to be pre-approved?

It means that a certified mortgage lender has checked your credit, employment, and verified assets.

Once they’ve reviewed these things, they can tell you how much money the bank can loan you for your mortgage.

Also, most sellers require a pre-approval letter from a mortgage lender before negotiating with a buyer.

In order to get pre-approved, you’ll need to provide proof of: 

• Employment verification
• Proof of assets (cash on hand; the money in your checking or savings accounts, money market accounts, etc.)
• Proof of income (income tax returns)
• A qualifying credit score (usually above 620)
• Personal documentation (government-issued identification)

Once you’re pre-approved, we can begin the home-buying search in earnest!