Your Pre-Approval Letter Comes First

ANSWER: NO. If you call on a sign, or call a number a friend gives you, you are talking to an  agent  that  represents  the  Seller’s best  interest,  highest  and  best  price,  etc.; you need Connie to represent you as the Buyer. Don’t talk to the Seller’s Agent, call or  text  Connie 614-943-0025 

Connie  will  represent  your  best  interests  and show  you  how  to  position  your  offer  to  get  accepted.

First Step: Call Connie’s preferred lenders

Craig Berry  says that

Before you shop online or in person for a home, even if you’re paying cash, you need to connect with a great realtor, Connie can then  help you connect with a great lender. 

Should  I  call  any  lender?  No  all  lenders  don’t  offer  down  payment  assistance, available to certain buyers with $74,000 and less annual salary for  example.  Call  Connie  first.  She  will  send  you  a  list  of  local  lenders  specific  to  your  needs.  

Her  lenders  give  you  their  mobile  number  to  call  during  the  transaction.

Many sellers request a preapproval to show their home.

The mortgage pre-approval is your #1 home buying preparation tool.

1. Pre-approval tells you what price range you can afford
2. Realtors and sellers won’t take you seriously without it.  Realtors  are  not  just  a  key  to  a  home  you  want  to  see.
3. Your mortgage process will be smoother and faster
4. A preapproval isn't always a preapproval. Until documents are signed, the lender may find something on your credit long after you have gone in to contract. 
5. Interest rates are usually locked 3 days after going in to contract to purchase a house and are based on your credit history, the price of the home (lower priced homes are riskier loans for lenders, and other factors). A QUOTED RATE IS NOT A LOCKED IN RATE. 

Those advantages should be enough to convince you. But 42 percent of homebuyers go shopping for a home without mortgage pre-approval.  A  reputable  realtor  will  set  you  up  for  success,  with  a  pre-approval  in  hand.

John and Linda jumped the gun and began their home pursuit by searching for properties online.

Once they found a few homes they liked, the couple contacted a real estate agent about seeing the properties. The agent asked if they had a mortgage pre-approval letter. John and Linda assured their agent that they were not going to contact a lender first--their credit and finances were impeccable, everything was in order, and there would be no problems.

Unfortunately, John and Linda were wrong. In fact, their offer was  not  taken  seriously  by  seller  because they couldn’t produce a pre-approval letter. In today’s hot sellers’ markets, a solid pre-approval letter is a must.

To add injury to insult, John and Linda discovered that their finances were not as “impeccable” as they’d believed.

John and Linda were embarrassed and disheartened. That’s why it’s smart to shop for money, then shop for houses.  Connie  will  set  you  up  for  success  in  buying  a  home.

Our step-by-step guide will direct you through the home buying process from start to finish. Know what to expect, no matter where you are in your home buying journey.

It’s a hot market in Central  Ohio. This means that sellers can be pickier when choosing what offers they’re willing to accept.

In a hot seller’s market, inventory,  that  is  the  number  of  homes  for  sale,  tends to be scarce. Getting pre-approved gives you a leg-up on your competition. A mortgage pre-approval allows you to make an offer with confidence and shows that you’re a serious buyer with the means to purchase a seller’s home.

Many real estate agents won’t even allow homebuyers to tour their listing if the buyers don‘t  have  a pre-approval letter from a reputable,  local mortgage lender.

A mortgage pre-approval letter from a lender assures you, sellers and real estate agents that you have the ability to a complete the purchase of any home that meets the lender’s guidelines.

Mortgage pre-approval shows you what you can afford to spend and what your monthly payment will look like.

Mortgage pre-approval is not merely pre-qualification. Many lenders issue “pre-qualification” letters after asking you about your income, debts and assets, and perhaps checking your credit.

Mortgage pre-qualifications are good (but pre-approvals are better)

While a pre-qualification letter is better than nothing (at least you put some thought into your prospective purchase), it can’t compete with an offer from a pre-approved buyer. To secure a mortgage pre-approval, you must complete a mortgage application and submit all required documents. These can include (but are not limited to):

• Pay stubs and W-2s (typically two years)
• Tax returns (typically two years if self-employed or you earn commissions or bonuses)
• Bank, retirement and investment account statements (two to 12 months, depending on loan)
• Financial statements (if self-employed)
• Letters of explanation for credit blemishes
• Divorce decrees, if you pay or receive spousal or child support

Often, one document might trigger a request for others. For instance, a bank statement showing 15 bounced checks in a single month might cause an underwriter to question your financial management skills. It’s best to resolve these glitches before home shopping.

Connie will help you plan and execute a time-saving strategy---that's her specialty...helping clients chuck tasks to very a very manageable plan!  She can be as hands on and involved as you'd like her to be! Plan a one on one meeting, get to know her, and see how she can help you. Ask for her NO OBLIGATION,  helpful, FREE print or online buyer's guide!

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