Let's face it, buying a home is scary. Today, we're focusing on the all important pre-approval and some of the scary hurdles of getting the pre-approval. Joe & Ken from First Commerce Financial explain a lot in the video below. The text explanation follows:
As you've heard time and time again, the pre-approval is one of the most important starting points to buying a home. When you go through the process of gaining a full pre-approval, you become fully qualified to purchase a home. The lender gains various documents and verifications of income, credit, finances and your personal plans and wishes to construct a plan to purchase a home. This document is a necessary document when submitting an offer on a home as well. Even if you're not ready to start looking at homes, the pre-approval give you a complete inside look at what type of loan(s) you have available to you when you do decide to start looking at homes. Also, while pre-approvals have expiration dates, since you have gone through the process, the lender only has to do a few steps to re-certify your preapproval when you're ready to see houses and possibly write an offer.
Ken Turkington explains how it is sometimes difficult when we meet somebody and start asking very personal questions. This is one of the advantages to in person meetings. Fortunately, technology allows for this to happen via video conference. As professionals, we do as much as possible to gain trust early because we understand it's already a scary time and now we need to know tons of personal info. If you have any suggestion for us, please comment and let us know how we can make our initial meetings and/or consultation even more palatable for you!