1) When it comes to how soon you should get pre-qualified for buying a house the answer is yesterday. Don't worry if you have yet to get pre-qualified because you are not alone. The good news is that the process is not nearly as daunting as it may sound and being a client of Magnolia City Living gives you access to many incredible lenders including Keller Mortgage with it's popular ZeroPlus program.
2) When people ask me what is the biggest hang up when it comes to home buying I tell them every time that it is the heartache that comes with starting when home buyrs begin the home search process without getting at least pre-qualified. While pre-approval is ideal, it is becoming more important by the day to become at minimum pre-qualified so that the hopes and dreams that build with home searching aren't dashed by an unforeseen obstacle.
3) Things have changed and it’s not as easy to obtain credit. There are more guidelines because of the bank failures during the 1980s. So we have to provide whatever they require if we want to get a loan. Second, I don’t want to show you a home that you fall in love with only to find out that this would be the home that you would qualify to buy a few years from now. It may not be the actual home that you’re going to buy right now. So in order for me to establish what your buying qualifications are, I need a lender to prequalify you. They’re going to run your credit report and discuss your loan expectations for the house.
4) The pre-qualification process will only take about half an hour. They’ll come here and meet you in the conference room. I will leave the room since a lot of the information you’re going to be giving them is private financial information. I don’t need to participate in that part of the process. I will have a letter in my office the following day stating that you’re pre-approved for x amount of dollars.
5) Here is the good news! One of the great things about working with a Keller Williams agent is the access you have to Keller Mortgage ZeroPlus. KW agents and their clients benefit most by eliminating traditional costs from such things as origination and lender fees and passing the savings directly to the customer with the same low rate. To find out more click here.