Pre-Approval For Buying A Home In North Atlanta
The Mary Ellen Vanaken Team of Keller Williams Realty http://www.mevhomes.com
Pre-approval for buying a home in North Atlanta is important even before you find your new home. Having a pre-approval letter helps you in the home-buying process. In today's market, most agents and home sellers will not work with you unless you have a letter. Pre-approval means you have an approval for a mortgage loan BEFORE you make an offer on a home.
For buyers, obtaining a mortgage pre-approval is usually straightforward. Patience and organization are normally all that's required.
Here are some tips for getting pre-approved:
1. Talk to different mortgage lenders to see what type of a mortgage works best for you and how much you can actually afford.
2. Pull together your complete financial picture. Your mortgage company will explain everything you need to present. But most likely you will need to present W2 statements, tax returns, bank statements, pay stubs and proof of any other income.
3. Getting a pre-approval letter does not mean you are tied to that lender. It just gives you an idea of how much you can afford. You can choose which lender and loan fits you the best when making the final purchase.
4. Watch your credit score! Especially keep an eye on it as you get within 30 days of closing.
5. Only deal with a lender who is reputable. Ask your agent for recommendations.
6. Be aware of the time! Pre-approval letters typically expire after 90 days. Be sure to notify your lender if anything changes during this time such as employment or debt.
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