In today’s competitive real estate market, the first step in the homebuying experience is pre-approval. Understanding how much home you can afford will allow you to focus your search, avoid disappointment, and act quickly when you find the perfect home.                                                                                                                                                                                                                      
 
Make sure would-be buyers don’t shy away from touring your home due to bad curb appeal with these 5 tips!
Pre-approval perks:
  • Helps you learn about loan options and budgeting with the lender.
  • Checks your credit and alerts you to any problems.
  • Determines the maximum amount you can borrow and helps set a price range for your search.
  • Allows you to make an offer instantly.
  • Sets you apart from the competition without a pre-approval.
  • Legitimizes your offer, as sellers will be more willing to negotiate with you knowing you can obtain financing.

Items needed for pre-approval:
  • Proof of income
  • Verification of employment
  • Proof of assets
  • Credit check
  • Identification - Social Security number, driver's license, and current address

If you are not quite ready to commit, you might start with a pre-qualification. Unlike a pre-approval, which offers a conditional commitment for a loan based on financial documentation, a pre-qualification can give you a general idea of what you can afford.
If you have questions or are ready to get started, don’t hesitate to contact Team Honeycutt at 704-721-7130.