Are you thinking about buying a home but not sure where to start?
The very first step you should take is getting pre-approved for a mortgage. This important step shows you how much you can spend on a house and proves to sellers that you are serious about buying.
What is Pre-Approval?
Pre-approval means a bank or lender has checked your credit and decided they would lend you a certain amount of money to buy a home. It helps you know your budget and shows sellers that you’re ready and able to buy.
Why Get Pre-Approved?
- Know Your Budget: It’s like having a spending limit when you go shopping. It tells you what price range of homes you should look at.
- Serious Buyer: It tells sellers you’re not just looking around – you’re serious about buying a home. This can make them more likely to accept your offer.
Steps to Get Pre-Approved:
- Gather Your Papers: You will need things like your pay stubs, tax returns, and bank statements.
- Find a Lender: Look at different banks or lenders to see who has the best deal for a mortgage.
- Fill Out an Application: Give your financial information to the lender so they can check if you qualify for a loan.
- Get Your Pre-Approval Letter: If everything looks good, the lender will give you a letter saying how much they are willing to lend you.
Choosing the Right Lender: Make sure to shop around. Different lenders have different rates and fees, so it’s important to find the best one for you.
Understand Your Pre-Approval Letter: The letter will tell you how much money you can borrow. Keep in mind, this isn’t a final approval, but it’s a good start!
Ready to Find Your Dream Home? If you are looking to buy or sell a home in the Greater Dayton Area, think about calling Jonas Helbert and Katie Masters from Team MVE at Streetlight Realty. They know a lot about the area and are ready to help you every step of the way.
To Return to our Home Buyer Video Series click: HERE
For all of our Home Buyer Education and Resources click: HERE
Contact Team MVE:
- Jonas Helbert: (937) 626-4181
- Katie Masters: (937) 901-8177
- Email: mve@streetlightrealtors.com
- website: streetlightrealtors.com
Discover everything the Miami Valley has to offer. Whether you’re moving for work, school, or just for a change, Jonas and Katie will help make your move smooth and exciting.
Are you thinking of starting the process of buying a home? Reach out to Team MVE today and let’s get you into the perfect home!
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SLR Experts
Streetlight Realty is located in Washington Twp, OH, and serves the entire Miami Valley. Whether you are looking to buy or sell real estate, we have experts who can assist you in the process. You can call Jonas Helbert at 937-626-4181 or Katie Masters at 937-901-8177 with any Real Estate questions. We are here to help!