When you are making the decision to buy a home, it may be one of the single biggest investment decisions you will ever make. So, you will want to be sure you are working with qualified, experienced professionals who can steer you in the right direction and steer you clear of any challenges. The Donnelly Group has the experience and expertise you need to get the right home at the right price!
Why Get Pre-Qualified Now? Buying a home can be a very emotional process. Can you imagine finding a home you fall in love with only to find out that you can’t qualify to purchase it? Secondly, every seller wants to be assured you are qualified to buy their home when you submit an offer. So, having our pre-approval letter ready to submit with an offer can strengthen your offer over someone who has not yet been pre-approved. This can give you great negotiating power!
The Donnelly Group has over 50 years of experience, so we have developed strong relationships with local lenders that provide a high level of service to our clients and, most importantly, are adept at working through any challenges that may arise, to get you to closing. However, you are free to work with any lender of your choosing.
Essentially, most lenders will require you to provide the following information:
- Income – You will need to provide pay stubs for the last 30 days
- Tax Returns – Most recent two years of tax returns
- Assets (401K, 403B, stocks, bonds, checking accounts, savings accounts etc). Typically, statements covering the most recent 2 months are required.
- Monthly Obligations (Debt) – often this information is pulled directly from your credit report
- Bank Statements: Showing the balances in your checking/savings account to identify how much cash you have to purchase the home, but also to identify if there are any recent large deposits. Recent large deposits could indicate a new loan obtained not yet showing on a credit report.
- Your social security number(s) in order to run a credit report
This information will allow the lender to provide you a price range you can use to shop for your new home. The lender will also provide a “pre-approval” letter so when you find your home of choice this letter will be included with the offer to let the seller know you can financially afford the home and gives us a stronger position to negotiate.
If you’d like to get pre-qualified now, please supply us with a few pieces of information and we’ll connect you with a lender who can assist you!