You’re planning on buying a home within the next 6 months and you
don’t know where to begin. You likely came to this site to see what
kinds of homes are available within what you think your price range is.
Good! Welcome! However, what you think you can afford and what lender
guidelines will allow may be completely different depending on your
Getting Pre-Approved means more than just knowing whether or not you
can get a loan. Summit Funding in Cincinnati, as an example will work up
your Pre-Approval and find out where your credit scores are as well as
what your Debt To Income ratios are and help you figure out your
If your credit scores are on the low side, they will
help you fix any credit issues which can be as simply as paying a small
sum down on a credit card or a more lengthy process of having things
removed from your credit report which can take up to 90 days. Not all
lenders will perform these tasks for you so you have to find a lender
that truly wants and appreciates your business. Many big box banks are
so overloaded with clients with checking and savings accounts wanting
home loans, they don’t really have to try very hard to earn the business
or get the loans closed for that matter. Not to mention, most have
guidelines and restrictions that make it much more difficult to get a
home loan from them to begin with.
Another reason to get Pre-Approved is to show your real estate agent
that you are a serious buyer. Many won’t spend the time and money to
show homes until you have been Pre-Approved and this isn’t just them
It’s also a safety pre-caution on their part. Someone
looking to target agents for ill doings is much less likely to get
pre-approved from a bank and have a record on file showing who they are
in detail which is why agents are weary of cash buyers (and nowadays
require proof of equity and or bank statements).
Overall, getting Pre-Approved is a smart move all around and highly
recommended. You may think you can only afford $800 per month in a
mortgage payment but find that by refinancing your vehicle, you can free
up $200 a month and now you’re in a $1,000 per month house or, you can
keep searching for a house with a total payment of $800 per month and
pay and additional $200 per month down on the house and build your
A solid lender will work through all of this with you and make
sure you are making smart financial moves.
Most agents have a Trusted lender they like to work with because they
trust the lender to take care of their buyers and get their deals
closed. I like my clients to work with Team Denton of Summit Funding for
many reasons, but most of which stem from trusting them to help my
buyers with whatever is necessary to get their loan closed and the
communication they offer all involved parties associated with a deal
which is a big deal in and of itself.
If you are in Ohio, Kentucky or Indiana, you can call Brandon Walker
at 513-322-1440 and tell them Cristen sent ya. Then call me and let’s
get busy getting you into your new home!
Author:Cristen Appleton Phone: 513-706-2680 Dated: October 14th 2014 Views: 1,190 About Cristen: ...
There are few purchases in life that carry the financial and psycholog
"Cristen and I have worked together for over 6 months in the real estate industry. She has been nothing short of "an excellent example" of what our real estate professionals should be. She has always contributed to the office, specifically by supporting our causes to impact our community in positive ways. Her example of "always educating and learning" is another great example of the leadership she brings to our company. We are blessed to have her at Keller Williams Realty, and you would be the wiser to let her professionalism and integrity work for you.""