How to Rock a Mortgage Pre-Approval!!!

By
Mortgage and Lending with Guaranteed Rate, Marin County, CA NMLS: 22343

How to Rock a Mortgage Pre-Approval!!!

  

 

Buying your first home is a daunting task and can be a huge undertaking for the first-time buyer.  Shoot, even for a move-up buyer, the experienced downsizer or a seasoned investor, it can sometimes be difficult to know where to begin.  But getting a mortgage pre-approval often remains the best first step in the process, and it's also a likely reality that your Realtor won't seriously consider showing you property until you are either pre-approved or pre-underwritten by a mortgage lender or broker.  After all, it's really tough to know your purchase power and your budget if you don't know how much of a loan for which you can qualify.

 

But buyers and borrowers got it bad (so bad!) because they don't teach "how to buy a home" in school.  So it's less about the education that you missed and probably more about the education you never got.  But in just five fun minutes we'll cover:

 

  1. What's a pre-approval?
  2. How much does it cost to get a pre-approval?
  3. Will a pre-approval application hurt your FICO score?
  4. What happens once you're pre-approved?
  5. How long is a pre-approval good for?

 

Grab your pencil and let's learn how to rock a mortgage pre-approval!

 

I don't feel tardy,

 

 

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

 

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.

Comments (2)

Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jun 24, 2022 03:41 AM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Rob it is confusing, and especially to 1st time buyers on how important it is to be pre-approved to buy a home   Excellent post!

 

Featured in BananaTude!

 

Jun 24, 2022 09:44 AM