Still have questions? Don't worry, I have you covered! Below are some of the most frequently asked questions I get when it comes to getting pre-qualified.
Nope! Getting pre-qualified is totally FREE for you with no obligation.
You can expect to receive a response within 24-48 hours, but this does not guarantee that we can issue a pre-qualification.
No problem! Your credit can be pulled as many times as you want by the same type of lender within a 30 day window without impacting your score.
The standard documents that are recommended are: 30 day pay stubs, 2 month bank statements, 2 year W2’s and Federal Tax Returns. Dependent on the loan program and your financial situation, additional documents may be required.
When you submit an offer on a home, you want to be in the best position to make a strong offer. Having a pre-qualification letter from a reputable lender will give you the leg up on your competition. It will ensure the listing agent and the seller that your credit and documentation has been reviewed and you are qualified to buy the home. Not to mention, properties can move very quickly when they hit the market! You do not want to be scrambling to gather your paperwork and to find a loan officer to review it on a Saturday afternoon once you have found your dream home – you want to be ready.
A pre-qualification letter is good for 4 months. However, keep in mind that a pre-qualification is based on a snapshot of your financial situation. If your income, money for down payment and closing costs, or monthly debts change, you can expect the amount you qualify to change. That's why we help you stay qualified once you get started!
Don't give up! The best thing you can do is start early. In fact, if you are a first time home buyer I recommend getting in touch 12 months before you want to buy. That way we can make sure you are financially prepared when the time is right. If you need to work on building up your credit or saving additional cash to buy the home your want, I will help you put that plan into place.
Is there a fee for this?
How long does it take?
What if another bank or lender already pulled my credit?
What paperwork will I need?
What if I don't want to get pre-qualified until I have a house in mind?
How long is a pre-qualification good for?
What if I am unable to get pre-qualified?