I’m excited to be joined today by Steve with New American Funding to talk a little about the pre-approval process for home loans so that you’re aware of it if you or someone you know is interested in buying a home. It’s not as complicated as some make it out to be.
Pre-approval is very important for home buyers. Most importantly, you want to make sure there is nothing that will come up and prevent you from closing your transaction. Check the credit, income, and any liabilities or debt.
It’s not as complicated as you think.
You have a few different options in how you want to go about getting pre-approved. You can head to the loan officer’s office to fill out forms and hand them in in person. You can also fill out an online questionnaire, where you will then receive a link where you can upload the required documentation. The documentation you’ll need includes your last two years of W-2s and tax returns, and your last two paycheck stubs and bank statements. Once we have that, it only takes about 30 minutes.
Once you are finally pre-approved, we send out a general pre-approval letter with your maximum amount. Once you’ve identified a property that you plan on purchasing, Steve and his team will custom-tailor that letter for the property.
Thanks again to Steve for joining us. If you have any questions for him, you can call him at (562) 344-5546 or send him an email to steve@gotoloanpro.com
If you have any other questions for us or you are thinking about buying a home, give us a call or send us an email. We look forward to hearing from you.
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