- 2018 Posts

  1. FHFA Conforming Loan Limits 2019
  2. How 2018 Market Trends Will Affect Wisconsin Buyers
  3. No Money Down Home Loans Appleton Oshkosh Green Bay Wisconsin
  4. Benefits of using FHA for your home loan
  5. Benefits of being a homeowner
  6. Wisconsin local lender vs online lender
  7. Home Loan Pre-Approval
  8. No Money Down Home Loan
  9. Serve and Support Loans
  10. Debt Consolidation and Cash Out

+ 2017 Posts

+ 2016 Posts

+ 2015 Posts

Pre-Approval for New Home Purchase

December 21, 2015

Should you get preapproved before looking for your new home?

 

Yes! A preapproval is an important step before looking for your new home. You are not required to provide any documents for the preapproval, however, your preapproval is only as good as the information the lender has. To help the lender with your preapproval you can voluntarily provide the same documents you will need to qualify for your loan once you have an accepted offer, such as paystubs, bank statements, two years W-2s, federal tax returns, and your credit report. Remember, a preapproval is not a commitment to lend, but it certainly speeds up the application process and loan approvals when you finally make your offer on your home. To obtain a preapproval, a mortgage specialist will verify your information and documentation to determine how much they are willing to lend you to make that important purchase.

 

Providing a preapproval letter along with your offer, may make the seller more likely to accept. Some sellers in todays market will not consider an offer without a preapproval letter with it. A preapproval shows the sellers you are serious about purchasing their home and have taken the needed steps to make the process as easy as possible. Speak to your mortgage professional about what financing needs you have. This will also enable you to know what is required for a home purchase, and will help you further determine what payment you are comfortable with. Being preapproved will allow you to proceed with confidence that you are shopping for the right priced home to fit your budget.

 

Here at GSF we specialize in helping you finance the home of your dreams. Contact us today so that we can help you buy your home tomorrow! Remember, its never too early to get qualified!

 

 

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018