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3 - How To Be Confident In Your Pre Qualification

Certified Mortgage Advisor
NMLS 1701021
November 17, 2019

Can we make our pre qualification worry free?

Buying a house really can feel overwhelming. So how can you make sure that you're confident moving forward with your prequalification? The reason why you want to make sure you're confident is that there are a lot of moving pieces going on.

With the loan and with buying your house, you might also be moving jobs. Your kids might be moving schools. There are a lot of deadlines that you're running up against. So you want to make sure that you're really confident in coming. With everything that's happening, especially because there are a lot of professionals in this industry who frankly just don't do the work that they should be done upfront to help you win the house that you love.

So here's how you can be confident in your prequalification and the offer you submit.

Review numbers

Number one is you're going to want to review your numbers, right? So I'll be sending you that total cost analysis. You want to make sure that you're comfortable with your monthly payment, and your cash out of pocket. Make sure you're comfortable with those numbers.

If you see those numbers and you're not comfortable with them, that's when we need to have a conversation and see what we can do to make sure that those numbers fall in a range that's comfortable for you. That way you can move forward with that home.

So you have to make sure that you have a comfort level in the numbers moving forward. Don't gloss over documents, don't gloss over videos that get sent to you, make sure that you have ownership of everything. That way you really can have the knowledge and be equipped to win that house.

Submit all requested documents

Also, you want to submit all of the requested documents that we ask for upfront so you can get a solid pre-qualification. So if we ask you for documents, things like pay stubs, W2's, maybe bank statements, or divorce paperwork, if you have it, make sure to send those in as quickly as you can. Because we want to make sure that we can give you a really solid prequalification based on facts and spot any problems upfront.

What a lot of companies will do is they will just go off of poor data and say that you're pre-qualified, but then there are issues down the line. We don't want that to happen to you. We want to spot any issues upfront and help you find solutions to them before you're under contract. That way you can be confident in your pre-qualification.

Ask questions

Also, this is huge. Ask questions. You are allowed to ask questions in the process. There's a lot going on. But you're going to have two points of time. You're going to have your realtor and you're going to have a mortgage advisor. So if you have questions about buying, ask your realtor, ask your mortgage advisor.

There is no question that is dumb at all

I have an entire YouTube channel dedicated to questions that people have asked me, and I'm continuing to build that out. There's no question that you can't ask. So if you're unsure about something or don't even know the questions to begin. Asks ask your realtor or mortgage adviser to walk through some of the processes a little bit more until you're comfortable with everything moving forward. So you can win the house you love.

Check out the next step here: How To Write Your Offer - 4

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Kyle Andrew Seagraves is Federal Mortgage Loan Originator (NMLS 1701021) licensed in all 50 states with the Dan Frio Team at Allied First Bank (NMLS 203463), an Equal Housing Lender. Separately, Kyle owns Win The House You Love LLC, an education company. Win The House You Love LLC is not a lender, does not issue loan qualifications, and does not extend credit of any kind. This website is only for educational usage. All calculations should be verified independently. This website is not an offer to lend and should not directly be used to make decisions on home offers, purchasing decisions, nor loan selections. Not guaranteed to provide accurate results, imply lending terms, qualification amounts, nor real estate advice. Seek counsel from a licensed real estate agent, loan originator, financial planner, accountant, and/or attorney for real estate, legal, and/or financial advice.

Servbank is not affiliated with the VA, FHA or any other government agency. This site has not been approved by any government agency.
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