How to Buy a Home

Step 1 in Buying a Home

 

 

What's first thing you need to do when buying a home? You need to speak with a mortgage lender who will help you get a pre-approval letter. That’s much different than a pre-qualification.  A pre-qualification is when you just submit the lender docs and the approve you based on what you “say” you have. A pre-approval, on the other hand, is a document that states you submitted your 4 - 2’s. That’s your last 2 months of bank statements from ALL accounts, past 2 paystubs or retirement income letter, and finally your past 2 years of W-2’s & tax returns. Once you have submitted all this documentation you will have an official pre-approval letter.

 

Why do this? First, legally you have to. Second, if you like a home this process takes 48-72hrs so the house could go under contract with another purchaser who has already completed this step. Third, if you don’t have this letter we can’t submit and offer. Finally, how do you know what you can officially afford if you don’t have all your ducks in a row?  So get your pre-approval and let’s get you into a new home.

 

And of course you can find more info on buying and selling a home on personal website at www.buygreenvilleschomes.com and my you’ve channel at https://youtube.com/@kwellsrealestate