Special offer

Lancaster Co., PA Buyers are Pre-Approved !

Reblogger
Real Estate Agent with KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 AB067316

 

 

The first step in buying a house!

 

Read the attached article and then call me,

 

 

I can help you get per-approved! 

 

Don Hess
 
KW Elite
Keller Williams Realty
1280 Plaza Blvd.
Lancaster, PA 17601
717-553-2500 Office
717-715-6288 Mobile
717-786-7967 Direct
donhess39@gmail.com 
Original content by Michael J. Perry

Why Pre-Approval Should Be Your First Step

Why Pre-Approval Should Be Your First Step | MyKCM

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. 

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” 

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Email mikeperrykw@gmail.com  to begin the Pre-Approval process !

 

 

 

Michael J. Perry

KELLER WILLIAMS Elite  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Don Hess

Keller Williams of Central PA East, Lancaster Office

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Comments (2)

Gwen Fowler SC Lakes & Mountains 864-710-4518
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

with multiple offers coming in on properties I will not submit one without a pre - approval letter.

Jan 16, 2017 12:59 PM
Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

That's my practice too Gwen. Why take the chance on the deal falling through for lack of financing?

Jan 16, 2017 01:24 PM