Get Pre-Qualified First!
Broward, Palm Beach and Miami-Dade Counties are competitive markets, any serious buyer should have a pre-approval from a lender prior to beginning a home search. No pre-approval, no accepted offer!! Most sellers reject offers from buyers who are not pre-approved with a letter for shopping for a home. Without first getting pre-qualified a buyer is wasting their time. Without a pre-approval a mortgage is the equivalent of walking into a grocery store without a wallet. Yet, the vast majority of homebuyers don’t get a loan pre-approval before they start shopping for a home. Buyers are often eager to start looking at homes and tend to leave what they view as the boring, mortgage process for last.
You have to have a pre-approval and it must be from a legitimate lender, or pre-qualification, where the lender has verified not just your credit, but bank statements and tax returns.
It’s a normal thought process for potential buyers to assume they are pre-qualified for a certain mortgage amount based on what a neighbor, friend or relative with a similar credit profile bought.
A recent survey by Neighbor Works America found that approximately 4 in 10 people who are thinking of buying a home first ask the advice from friends and family who own a home. Only 16 percent say they approach a real estate agent for advice in that beginning stage, and mortgage lenders are approached significantly less at only 9 percent of the time, according to the survey. Getting pre-approved before you shop for a loan also allows potential buyers time to fix unexpected errors on their credit reports.
The documentation to get pre-qualified are the exact same documents that you would need to get a mortgage, previous one months pay stubs, last two years’ W-2s, last two federal returns, two months of bank statements of all financial accounts, and your credit report. Being pre-qualified is not a loan commitment, but it helps quicken the underwriting and loan approval process.
Many potential buyers simply do not want to share private information with a lender until they actually find the home they want. When filling out the form below WE DO NOT share your information with anyone other than our primary lenders. We do not send your information out to multiple lending companies and expose you to constant calls. I personally send your basic information to Heidi, a local loan officer I trust and who did my home loan as well. She will evaluate your documentation and call you to proceed to the next step. You are under no obligation to use this lender and may prefer to shop around for the best rates and terms, in fact I encourage it!
Fill out the form to the right
Apply Directly with Heidi
Or Call Heidi at 561-469-8232