WHY GET PRE-APPROVED BEFORE planning your move?
Let’s make your move as easy as possible!
We’ll find the smoothest path from where you are to where you want to be—knowing your loan options tells us what we need to do first. We won’t miss any great opportunities you might have thought you couldn’t afford or break your heart by falling in love with homes that turn out to be just out of reach.
Now is the perfect time to…
-Connect with a great lender if you don’t already have one
-Find out if you can buy before you sell
-Understand what kind of loan makes the most sense for you
-Find out how much you can qualify for
-Learn what price range of home fits your budget comfortably
-Provide the documents your lender needs to fully pre-approve you
TIPS TO HELP YOU
1. START QUICKLY
HAVE THE TIME TO PICK A GREAT FIT
I will recommend some excellent lenders, so you can be confident they will get the job done for you. You’ll interact a lot with your lender, so you want to choose someone you can communicate comfortably with. Feel free to interview a few!
AVOID BEING BLINDSIDED BY SURPRISES
Catch any mistakes in your credit report or snags in your records before they cause problems and while you have time to fix them. Make sure your expectations line up with current loan approval requirements. See if there are any small steps you need to take first to beef up your buying power.
IDENTIFY YOUR OPTIONS
Could you qualify to buy the home you want before you sell the house you have? If you don’t qualify to own both, could a bridge loan make it possible to buy first? If you are free to buy first, you may have more and better buying options, because you are free to make a non-contingent offer on the home you want. You can make your life easier by moving from one to the other without a rush. You might even be able to stage and sell the home you’re selling without having to deal with showings interrupting your life.
2. COMMUNICATE CLEARLY
TELL YOUR LENDER EVERYTHING
Many buyers feel they should tell their lender only the things they think will help them get approved. They are afraid that if their lender finds out anything negative it will hurt their chances of getting a loan. Your lender is not the person who will approve or disapprove your loan—the underwriter will do that. Your lender’s job is to help you fix or change anything that could make it hard for the underwriter to approve you. The more you tell your lender (both the good and the bad), the better they can help you.
ASK YOU LENDER EVERYTHING
Which loan programs & options do you qualify for? Which kind of loan makes the most sense for you? Why? What's the maximum amount you can qualify for? How much cash (not counting equity from your current home) will you need to complete your purchase? What price range of home fits your budget comfortably? How much does your payment change for each $1000 more or less you choose to spend? How much closing costs should you plan for? Is there anything you can, or should, do to improve your buying power before you choose?
3. SHOP CONFIDENTLY
KNOW ALL YOUR OPTIONS
You might be able to buy first, then sell. You might qualify for more home than you thought you could. You might be able to afford homes you are excited about instead of settling. Don’t miss out on any opportunities you assumed were out of reach.
AVOID HAVING YOUR HEART BROKEN
You might not be able to qualify for homes you assumed you could. Don’t let yourself fall in love with homes that are just out of reach.
FOCUS ON PAYMENT, NOT PRICE
Know what the payments will be for different prices in your qualification range. Focus on homes that keep your payments at a comfortable level.
CHOOSE WITH CERTAINTY
We will build your home-search process around timing and price range that works for you. Relax and enjoy shopping. You know you can buy any of the homes you fall in love with.
NEGOTIATE WITH STRENGTH
Sellers will take you more seriously if you are already pre-approved and non-contingent. You can negotiate both transactions better if they are not directly tied together.