The Importance of Getting Pre-Qualified

Dated: March 9 2021

Views: 47

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

Latest Blog Posts

Prescott to hold Veterans Day Parade

One of the most anticipated events in the country is the celebration of Veterans Day. It’s a time we get to openly honor our veterans who have fought with all their might to protect our

Read More

Prescott’s Annual Spooktastic Fests

One of the best times of the year is slowly creeping upon us. With lots of fun, laughter, and spooktastic feels. Every year trick or treating just keeps on getting better. Halloween is not only for

Read More

2021 Arizona State Fair October 1 - October 30 in Phoenix

The 2021 Arizona State Fair will be open from October 1 through October 30. Opening night is Friday (tonight.)The fair is closed Mondays and Tuesdays. Estimated turnout is 20,000 - 50,000 visitors

Read More

The Big Sting is Coming to Prescott

The Biggest Music Festival is coming to Prescott this October. Are you as excited as we are to experience the buzz? Brought to you by the Shadows Foundation of Flagstaff, this exclusive music camp

Read More