Pre-approval
Step 1
A pre-approval for a house is a process that helps you determine how much money you can borrow from a lender to purchase a home. It is different from a pre-qualification, which is simply an estimate of how much you might be able to borrow based on the information you provide.
​
To get pre-approved for a house, you will need to complete a mortgage application and provide the lender with documentation such as income verification, credit score, and employment history. The lender will use this information to determine how much they are willing to lend you.
​
Getting pre-approved for a house can be beneficial in several ways. First, it gives you a clear idea of your budget and what you can afford. This can help you narrow down your search and focus on properties that fit your financial situation. Additionally, pre-approval can make you a more attractive buyer to sellers, as it shows that you are serious about buying a home and have taken steps to secure financing.
Cristina Osborne
Loan Officer
NMLS ID# 53489 | Licensed In: NC
Patricia Acosta
Loan Officer
NMLS #1352203 | Licensed In: NC
Johan AlvarezLoan Officer
Loan Officer
NMLS ID# 53489 | Licensed In: NC
Oscar Saavedra
Loan Officer
NMLS ID# 754624 | Licensed In: NC
Build Your Green File
A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:
Financial statements
Bank accounts
Investments
Credit cards
Auto loans
Recent pay stubs
Tax returns for two years
Copies of leases for investment properties
401K statements, life insurance, stocks, bonds, and mutual account information
​
​
Be Careful With Your Finances.
Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.