The Importance of Getting Pre-Qualified

Dated: March 9 2021

Views: 65

When preparing to buy a home a buyer is encouraged to get pre-qualified so they will be fully aware of how much mortgage they are approved for and what loan type, which influences which homes to view. Some people may have an ideal home and price range, however, when they get pre-qualified, they often realize that sometimes their dream home is far within reach, financially speaking. 

 

The best way to be prepared for this is to be open to getting a pre-qualification with a lender that services the state they are looking in. The first step in getting pre-qualified is finding a lender. What would really help is to find a lender who has a good reputation and competitive rates. The lender will then ask for documents such as current debt, net income including non-conventional sources of income, as well as other assets. After providing these documents, the lender will review everything and will determine an estimate on how much mortgage that particular lender is willing to lend. 

                              

Once the buyer has been pre-qualified and they know how much they can spend on a home, it is then time to start looking for properties. Showing pre-qualification documents to real estate agents gives the impression of being serious about purchasing. Also, having pre-qualification documents will allow the buyer to realistically search for homes within that price range and the ability to offer if they find the right home.

We at the Stephanie Woods Team, help buyers from beginning to end. We encourage getting pre-qualified and we have recommendations for lenders that have provided our past clients with stellar service. It is particularly important to get pre-qualified in our current seller’s market. Prescott homes are selling fast, and we would love to help you buy your dream home. Call us today to set up a conference call to go over your desired home criteria. Please feel free to check out our online Google reviews. The Stephanie Woods Team Better Homes and Gardens Real Estate BloomTree Realty 928-237-4455 prescottazhomefinder.com

Latest Blog Posts

8901 Waco- Site built Prescott Valley 350k

Check out my video tour!!https://www.youtube.com/watch?v=l0_nsd5FLyIWoods Hometown Realty, Stephanie Woods Team 928-237-4455 prescottazhomefinder

Read More

Services for Veterans – at no cost!

Happy to share this beautiful service offered by Synergy Wellness Center. Veterans can receive chiropractic, massage and acupuncture services at no cost. How is this possible? Once you’ve

Read More

A week apart: Clear skies and Downpours

As I was driving through Dewey and Prescott Valley, I was greeted with this beautiful display of cumulus clouds. I actually love the clouds this time of the year! But that was a week ago.,

Read More

New listing coming soon, site built in Prescott Valley

Stay tuned for this gem in an established neighborhood. Address and more information coming soon!!;

Read More