717-431-9299

Pre-Approval

What to Expect

To be a strong home buyer, you'll want to schedule a Pre-Purchase Consultation, to get a real Pre-Approval, before shopping.

In today's market a Pre-Qual just isn't enough anymore. A Pre-Approval tells the Agent that we have looked at your financial situation, and are confident we can provide you with a mortgage.

You really don't want to start house shopping without a Pre-Approval.

• Schedule a Pre-Purchase Consultation with us to discuss your goals and options (about 45 minutes).
• We create a MAP (Mortgage Analysis Plan) designed around your specific goals and needs.
• We provide a Pre-Approval to you and your Realtor.

What We Need From You

• In order to pull a credit report, we will need:
     Full Legal Name(s)
     Social Security Number(s)
     Home Address & Telephone Number
• Copy of W2s and tax returns for the last 2 years.
• Copy of 2 months most recent bank statements (all pages please, even if blank).
• Copy of most recent pay stubs covering 30 days worked.

One way to provide us with information we need to start your file is to fill out our Secure Online Quick-Application.

Do

• Provide all pages of bank and asset statements, even if blank.
• Explain large deposits. If your statements indicate large deposits, we will have to request a paper trail showing where the money came from and why. As much as you can supply up front is greatly appreciated, and helps make your loan process smoother down the road.
• Stay current on your existing accounts.
• Opt out. Did you know the credit bureaus sell your information when your credit is pulled? You can opt out from the credit bureau lists at www.optoutprescreen.com so you aren't bombarded with unsolicited offers, and to protect yourself from the potential this opens for identity theft.

 

Don't

• Don't worry about rates yet - mortgage rates fluctuate daily, and sometimes several times in a day. When you have a home selected and are at the Application stage, then together we can begin watching for the best time to lock a rate.
• Don't provide teller or internet histories for bank statements - we usually cannot use them.
• Don't apply for new credit when applying for a mortgage. A new debt could change everything.
• Don't close credit card accounts or consolidate your debts onto one card. This may seem like it would help, but it changes the ratio of how much you can borrow vs. how much you owe, and we have seen it lower credit scores rather than help them.
• Please don't quit your job unexpectedly.

The Home Search