Are you thinking about buying a home in the near future? Let me tell you, the first steps you need to take is to talk to a lender. This is so important. The market is moving so fast right now. Our inventory is ridiculously low, so multiple people are jumping on the same house. You need a pre-approval, not just a prequalification. A prequalification means all you did was make a phone call and talk to someone, a pre-approval means that you have given all the documentation needed to the lender for them to make an informed decision on your credit-worthiness.
Typically, that is two years of tax return, two months of bank statements, and two pay stubs. That’s the minimal amount that you need to give to a lender to start that pre-approval process. It makes you equal to almost a cash buyer at that point because it says that a lender has already found you to be credit-worthy. Now, all we need is a house to go with your loan, and that’s where you want to be right now when you’re out bidding on a home. It’s very, very unusual right now that we’re not having multiple offers on these houses that are on the market, so to make yours stand out more than another offer is a pre-approval, so make that your first step.
If you need some recommendations on some really great lenders, give me a call. I can recommend numerous people to you that will take great care of you. Let’s get you ready to buy a house.