Getting Pre-Approved

Once you have an idea of the type and size home you want and the area you’d like to look in, you need to be pre-approved by a lender. By doing this before looking for a home, you’ll save yourself time, energy and frustration because pre-approval can:

• Determine how much home you can afford
• Shows what your total investment will be
• Lets you know what your monthly payment will be
• Identifies the loan programs you qualify for
• Strengthens your offer

In order to be pre-approved, the lender will need to know the following

• Your employment history and income
• Your monthly debts and obligations
• The amount and source of cash available for a down payment and closing costs