Why you need to get pre-approved

Mortgage and Lending with Leader One Financial 164545

Findng the answer to the question why you need to get pre-approved means that you already know the importance of beginning the exciting process of looking for a homeby co nnecting with a local mortgage lender. A trusted mortgage lender can then begin the process of getting you pre approved.


Why should I get pre approved first?

There are several reasons why you need to get pre approved before looking for a home.

First, most realtors won’t show you houses until you have an approval letter from a bank, because they don't want to set you up for heartbreak of loving a home you can't afford. Second, a mortgage lender will be able to discuss with you how much home your family can afford. Even if there are issues with your credit, a local lender will be able to sit down with you and formulate a strategy to help you become mortgage ready.


What does getting pre approved mean?

Getting pre approved by a mortgage banker ensures you that you can afford the home you choose.

Whether you’re in need of an FHA, VA, USDA or conventional loan, they all work the same in Kansas and Missouri and you’ll need to be pre approved.

The process of getting pre approved only takes a few minutes. Your mortgage banker will run your credit and determine your debt to income ratios. This ratio is based off of how much income is coming in vs. how much is going out for bills each month, and by now you should be able to understand why you need to get pre-approved.


In order for us to complete this process, we ask that you bring the following along:

-Last year’s tax return

-Recent bank statement(s)

-Recent pay stub(s)


Once a pre approval letter has been issued, we look forward to building a relationship with you and staying in touch during your house hunt. For any questions or for more information about getting pre approved, contact Darren Copeland at KC Loan Tips today and we really hope we helped you understand Why you need to get pre-approved.

Posted by

Darren Copeland | Home Loans | Lee's Summit MODarren Copeland, Vice President LeaderOne Financial

4967-B NE Goodview Circle, Lees Summit, MO 64064

(816) 268-4025

KC Loan Tips & Midwest VA Loans


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Comments (4)

Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Even if you don't agree or understand this post, you still have to do it or you are not a player to be taken serious in Real Estate

Sep 02, 2015 12:37 AM
Darren Copeland
Leader One Financial - Lee's Summit, MO
Darren Copeland

Yes, Richie Alan Naggar  everyone loves it when you are serious about not wasting your real estate and lender's time! 

Sep 02, 2015 12:51 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Darren Copeland I think your emphasis on local is very important. Living in a military community many of the young men and women do not understand this and flock to USAA only to be disappointed by long delays and lending agents that don't "get" our booming market. Working with a local lender will usually bring the COE within 3 or 4 weeks while dealing with USAA or an Internet lender may take 6 to 8 weeks if it closes at all.

Sep 03, 2015 04:28 AM
Darren Copeland
Leader One Financial - Lee's Summit, MO
Darren Copeland

Local is always the best  Bob "RealMan" Timm , there aren't very many industries anymore that can claim great customer service, unless they have a great local presence for it!

Sep 03, 2015 05:21 AM