Home Buying Process

Step 3 – Get Prequalified

While getting pre-qualified is a good way to get an estimate of how much home you can afford, a pre-approval takes it a step further by verifying the financial information you submit to get a more accurate number.  It also lets a seller know that you qualify to purchase the home and can enhance the chances of your offer being accepted.

You will need to complete a loan application and provide various documentation including pay stubs, tax documents, bank statements, etc. You will then receive a pre-approval letter that serves as written verification from a lender that you qualify for a specific mortgage amount.

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