For Buyers November 15, 2019

✅How to Be Prepared for a Smooth Pre-Approval Process – Do’s & Don’ts! [VIDEO!] 🎬


4 Common Questions Buyers Have Regarding the Pre-Approval Process

1) Why is it so critical for a buyer to go through the pre-approval process before looking at homes?

-Getting clear on your numbers. Discuss affordability with you loan officer, including down payment and purchase price, as well as what your monthly mortgage payment will be including home owner’s insurance, property taxes, etc.

-Greg Berg with Vintage Home Loans can help you determine steps you can take to put yourself in the best financial position possible to maximize how much you will qualify for.

2) What kinds of documents will a buyer need to provide as part of the pre-approval process?

-Keep in mind that every buyer’s situation is different. But typically, buyers will need to provide W-2 forms for the last 2 years and one month of pay stubs (or 2 years’ of tax returns if you are self employed), 2 month’s of banking statement, and a unexpired photo ID.

3) What are the most crucial aspects in determining what a buyer is qualified for?

-Type of income, credit & debts, and available funds

4) What are some things buyers should avoid doing to ensure a smooth buying process?

-Don’t quit or change jobs if avoidable, don’t buy a car or apply for more credit, don’t transfer credit card balances, don’t consolidate debts (hopefully this was done prior to getting into escrow)

Greg Berg

Vintage Home Loans

M: 925-487-9676


Sierra Roth

REALTOR ®, BRE #01950753

M: 209-629-7573