So, you have decided to look for a home but are unsure of the budget.

Are you thinking of applying for a mortgage?

Consulting a lender if you are pre-approved may give you better loan options and budgeting.

Watch this video as a valuable resource for you.

Applying for a home mortgage can be exciting, nerve-wracking, and confusing. Some online lenders can pre-approve you within hours, while others can take longer.

How to be Pre-Approved for Home Loan?

Proof of Income
You need to prove that you've got a job or at least you got an income. Typically, lenders ask for:

• Last couple of weeks of pay stubs

• Previous two years of tax returns

You should file your taxes now if you still have not, or you can talk to your CPA or whoever prepares your taxes for you.

Proof of Assets

What are your assets and your liabilities? If you have credit card debt, make sure to figure out all those balances.

A reminder, though. Don't do anything with your credit card debt yet if you have it. Wait until you talk to that lender because if you pay it off, it may affect your credit that you're not expecting.

Good Credit

Suppose you don't have good credit right now. No worries. We can work with you. We can help you get that credit well.

Typically, most lenders will look for around a 620 credit score or better to be able to get conventional financing, or they'll be looking for a 580 or better to get in an FHA lab.

There are specific loan products, like VHDA or a VA loan program, that have different criteria.

There are all kinds of options, so if you are confused - give me a call. I'll help you out with it.

Verification of Identity

The next thing is you want to get some other types of verification together, such as your:

• Social Security Number

• Driver's License

Make sure to know all that information so that when you talk to that lender, you're ready to apply for a loan and get the very best deal.

Maybe you think you can't do this now. Well, perhaps you can! Give me a call. I'll let you know if we work it out together.

Dan Rochon here from Greetings Virginia with eXp Realty.

📱: 703-346-2776 or send me an 📧: dan@greetingsvirginia.com.

I'm grateful to be a resource for you.

Thank you.

Talk to you soon.

If you're interested to learn more about Real Estate Investing or tips and strategies about Real Estate, you can reach me at 703-346-2776 or send me an email at Dan@greetingsvirginia.com. We will be more than happy to help you.

Buying a Home is Easier than You Thought!

Here's a list of what you need to think about before you buy, and it will walk you through what you can expect from the buying process itself, plus tips to make life easier after you buy your dream home.