A Pre-Approval is your first step

​Author: Mohamed T Gulamali

Getting Pre-Approved is simply the
first step to Home Ownership!

This article & video will go into the 10 benefits of being pre-approved & your absolute best case scenario if you believe that you're the exception to the rule.

I'd like to congratulate you and your family on the decision to become home owners for
the obvious personal reasons & also on the numerous financial benefits.

Getting Pre-Approved is simply your first step to home ownership!  It comes even before picking the kind of home you're interested in because you don't want to waste time and energy on properties you don't qualify for.
 
A Pre-Approval is basically a document that reflects your actual purchasing power but it also shows Realtors & Sellers in writing that you're a serious buyer and not just someone wasting everyone's time.   

Absolute worst case scenario if you can't get pre-approved your loan officer will bring any issues to your attention and advise you on ways to resolve them so that you can eventually purchase your own home. 

IF YOU DON'T GET ​PRE-APPROVED:

Best case scenario you'll find your dream home & even attempt to make an offer.  At this point the Seller or Realtor will ask for your Pre-Approval & if all you have to offer them is a hand shake they're going to sell you and your families dream home to a prepared Buyer; while you have to keep paying rent because you decided to not make an actual effort. ​​

10 BENEFITS OF BEING PRE-APPROVED

1: Find out what your purchasing power really is

2: Save time by only looking at houses within your price range

3: ​Find out what your approximate monthly payment is

4: Find out how much of a down payment is required for properties you're interested in

5: Learn if there are any potential issues you may have in purchasing a home and get options on how to resolve them to make you home ready

6: Get educated on different loan programs & find out which one may be most beneficial to you

7: Get a real Idea of the Home Buying Process and how long it will likely take for you to close on your new home

8: Ability to make an offer on the same day you find the perfect home so that you don't miss out (especially since we are in a seller's market)

9: Gain negotiating power since Sellers will definitely prefer your offer over a buyer who is just not prepared

10: Become a Realtors priority since they'll know that you're a serious qualified buyer and not just some "window shopper" that's wasting everyone's time

HOW TO GET ​PRE-APPROVED ITS EASY & FREE

Call a local Mortgage Loan Officer and go over your goals Fax the following documents to prove your income and downpayment: 2 recent Tax Returns 2 years of recent W2's  30 days of recent paystubs 60 days of bank statements  After the Loan officer has thoroughly reviewed your documents they can send over a document reflecting how much your purchasing power is.

​Free Info:

• Free E-Book: Mortgage Basics The Guidebook
• WHAT TO & NOT TO DO AFTER GETTING PRE-APPROVED 
• MORTGAGE DOCUMENT CHECKLIST 
• MORTGAGE: BASIC REQUIREMENTS & MISCONCEPTIONS 
• RENTING VS. BUYING A HOME PROS & CONS 
• HOW TO BUY A HOME
• WHERE BUYERS FIND THEIR HOMES  
• 10 MORTGAGE & PROPERTY TAX DEDUCTIONS 
• CREDIT TIPS: HOW TO RAISE YOUR SCORE 
• 4 BENEFITS OF HOME OWNERSHIP 
• 5 REASONS TO USE A BUYER’S AGENT