Laurelton Real Estate

q       To begin the home buying process, you will need to know “how much” home you can afford.  This is the simplest step in the entire process.  All it takes is one phone call to the lending institution of your choice.  This could be your bank, credit union or other mortgage lender.  If you prefer, I can provide you with a list of lenders to call.

q       Obtaining a pre-approval puts you under NO OBLIGATION to purchase a home.  There is usually no fee for getting pre-approved.  However, because every lending institution is different, you should confirm their no fee policy when you call.

A pre-approval session with the lender will review and verify the following:

• Income - Generally, your income will help determine the amount of your loan
• Credit - Your Credit History will have a major impact on the interest rate on your loan
• Assets - This includes, savings, investments and/or other homes
• Debts - Rent, credit card balances, household expenses, etc.
• Employment Status – Length of employment, current position

Based upon the information provided, the lender will tell you the loan amount that will be available to you for your purchase.  A pre-APPROVAL letter will then be sent to you and/or your real estate agent.

Once you have obtained a pre-approval letter we will review your housing criteria (neighborhood, # of bedrooms/baths, etc) and discuss the options available to you within a comfortable price range.  The next step is searching for your new home!

Once The Bank Receives a Copy of Executed Contract The Following Steps May Apply:

Congratulations, You are a Homeowner!!