Purchase Information

So you are looking to buy your first home, but the process can seem really daunting if you don’t have all your ducks in a row. What do you do first? Find a realtor? Find a loan officer? Find a house? Well… everyone approaches the home buying process differently.

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We think the most sensible thing to do is to get pre-qualified first. If you really want to be ahead of the game – get pre-approved. What’s the difference between getting pre-qualified and getting pre-approved?

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Getting pre-qualified involves giving all of your information to a loan officer. The loan officer then pulls a credit report and looks at all of the key factors of your file (credit history, assets, income, job history, etc.), and then determines whether or not they think you will fit the guidelines for the type loan you are looking to get.

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Getting pre-approved involves all of the steps of pre-qualifying, but takes it one step further. Your loan officer can actually submit your file to an underwriter for credit approval before you even have a property. This makes you an even stronger buyer when it comes time for a seller to decide whether or not to accept your offer.