Posted by

Whether you’re a first-time homebuyer or a veteran of the process, you’re aware that making a home purchase takes time and legalease. Anything you can do to speed up the process is a huge help, and one of the biggest first steps that you can take is seeking pre-approval for your home mortgage. Pre-approval is a guarantee from a lender that you can finance an offer on a home (up to a certain value and with a specified interest rate). This makes you a serious buyer and moves you to the front of the list when making an offer on the home you want. Pre-approval is a must for getting the home you’re after.

Make Sure You’re Familiar with Your Own Credit Before Seeking Pre-Approval

You may be wondering how you can get pre-approved for a home loan. The first step that you can take in the pre-approval process happens before you ever set foot inside a bank. You should familiarize yourself with your own credit score and history. If you  reference your credit report and notice an error, you can clean up that administrative mistake before seeking a loan. Your credit history and score will impact the type of loan that you can get pre-approved for, so you’ll want to be aware of your own situation before beginning to borrow for your house.

Make Sure You Have What You Need When Seeking Pre-Approval for a Home Mortgage

Once you’re familiar with your own credit history and you feel confident that the information is accurate, you’ll also want to gather additional materials for your mortgage application. You’ll need records of your income and tax returns from the previous two years. You’ll also need documentation that lists and explains any other assets or liabilities that you might have. Finally, you’ll also need personal information in the form of a legal ID. You’ll want to have your social security number so that the financial institution can run a credit check as well.

Pre-Approval Is Even More Important in a Hot Housing Market

Home values are on the rise and the market for buyers has become more competitive. Purchasing the home you want is kind of like getting into the college that you want. You need an impressive resume to get you in the conversation. The best way to make sure that you’re taken seriously amidst a slew of offers is by gaining pre-approval and having a pre-approval letter that you can show a real estate agent and home seller. Make sure you give yourself every advantage possible as you chase the home of your dreams.

Connect to Loan Officers Through Bill Swanson

Bill Swanson knows the Omaha area. He’s been helping families buy and sell homes around Omaha for over 30 years. In his time as a real estate agent, Bill has also met a network of mortgage officers that operate with knowledge and integrity. When you’re ready to start your home search, talk to Bill and connect with a mortgage officer. To begin the process, contact Bill Swanson in Omaha, NE at 402-679-6566.