Have you ever wondered what the first step in the home buying process is?
Before you even start looking at homes, the first thing you need to do is get pre-qualified. The process is simple! Just give us a call, talk to us about what you want to do, and then we will take your personal information, income, and assets to figure out what kind of loan you will qualify for.
A pre-qualification is different from a pre-approval. The pre-qualification is more of a preliminary step. A pre-approval is when the we go through and verify the information you provided during the pre-qualification.
The documents you need to provide to the lender include 30 days worth of paystubs, your W-2s from the last two years, two years of tax returns if you have investment income or are self-employed, bank statements from the last two months, and a photo ID.
The whole process lasts about 30 days from getting approved to taking the loan to closing. You may even qualify for more than what you can afford. We allow you to borrow as much as our guidelines will allow, but that might be more than you can afford. Budget out your monthly mortgage payments in order to know what you can actually afford to spend on a home.
As always, questions, please don't hesitate to reach out. We look forward to hearing from you!
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