Getting pre-approved for a mortgage is an important step in the home buying process, as it helps you determine how much you can afford to spend on a home and gives you an edge over other buyers when making an offer. Here are the steps you can take to get pre-approved for a mortgage:
1.) Contact me and we’ll schedule a Zoom call to get to know each other. We’ll talk about your home buying goals and create an action plan to get you on the path to homeownership.
2.) You will then gather your financial documents including W-2’s, tax returns, bank statements, and pay stubs.
3.) When you’re ready to start shopping for a home you will need a pre-approval letter. You can apply using the link in my signature and upload your financial documents.
4.) Once you’ve applied I will analyze your credit, income and assets to determine your maximum purchase price.
5.) I will then send you an estimated fees worksheet so that you can look over the numbers and decide what purchase price, down payment and monthly mortgage costs make the most sense for you.
6.) Pre-approval time! I will issue a letter stating your maximum purchase price, down payment and an estimate of the interest rate. This letter is good for 90 days and can be quickly amended at any time.
Overall, getting pre-approved for a mortgage requires careful planning and attention to detail. By following these steps, you can increase your chances of getting approved for a mortgage and finding your dream home.
Content provided by Women Belong member Maria W. Kennedy
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