Count on us to guide you home

Get Pre-Qualified

Getting Pre-Qualified

Before you go looking for your dream home, wouldn’t it be nice to know what loan amount you will qualify for?  Sure!  It’s easy to find this out.  It takes only a short period of time and a little information from you for a loan advisor to provide you with some important ammunition.  A seller will take you more seriously if they already know you can afford to buy their house.  Having been pre-qualified shows a seller you are serious and have done your homework.

To get a prequalification letter from a lender it’s easy.   First make sure your lender is VA/FHA approved.  Next, provide them with some basic information.  With the information you provide, your loan advisor will pull your credit and determine what loan amount will be right for you.  Your loan advisor will send you a letter stating that you have taken the necessary steps to be pre-qualified.  

You can take this a step further and get a pre-approval.  What is the difference?  A pre-approval requires the same info as the pre-quale, but with a little paper work on your part.   You will need to provide pay stubs/LES and tax returns.  This information will go to an underwriter, who will provide you with a credit pre-approval letter.  Basically, you will only need to provide a signed purchase agreement to your loan advisor once you have a credit approval to purchase your new home.

 All that is good in getting Pre-Qualified or Pre- Approved but REMEMBER THIS!!!   “STAY WITHIN YOUR BAH”.   Lenders will approve you to your MAX and some real estate agents will try to sell you a house to your Max Loan Approval.  But if you know how much of a payment you want to make each month, then tell the lender that’s all I want is a loan for this amount of a mortgage each month.   Certified Military Relocator Agents know that it’s important to stay within your BAH and will advise you every time.

Once you get Pre-Qualified or Approved read all our Buying and Selling Tips so you’ll be educated before it’s time to look