Home Loan Pre-Approval is the first step in the home buying process. Pre-Approval is quick, painless and costs nothing.
What is Home Loan Pre-Approval?
Home Loan Pre-Approval involves your Arizona lender ensuring you can finance a home. Secondly, Home Loan Pre-approval results in your lender issuing a Pre-Qualification Form. This form (aka “PQF”) shows sellers you are a fully pre-approved home-buyer!
In addition, Home Loan Pre-Approval gives home-buyers peace of mind. Pre-Approval confirms:
- You are qualified for various loan products
- All of your different home loan options (there are usually multiple options for each buyer)
In short, completing Home Loan Pre-Approval let’s you shop for a home with confidence.
Home Loan Pre-Approval 3 Simple Steps
Step 1: Needs Analysis
During your Needs Analysis, the HOUSE Team learns about your wants, needs and goals. For example, desired monthly payment, down payment and future plans are all discussed during this step.
Step 2: Home Loan Application
Completing a home loan application is simple. In fact, it can be done on the phone with the HOUSE Team or Online in minutes. The home loan application (“From 1003”) requires basic personal information. For example:
- Identification Information
- Social Security Number
- Employment History
- Income Information
- Asset Data
- Residential History
Step 3: Supporting Documentation
Finally, you provide the HOUSE Team with the basic documentation they request. This documentation typically involves:
- Tax forms
- Asset statements
How Long is Home Loan Pre-Approval Valid?
Your Home Loan Pre-Approval is valid for 90 days. However, up to date documents are often needed when buying a home within the 90 day time-frame.
That is it! After finishing these 3 simple steps your Pre-Approval is complete. The HOUSE Team typically completes Home Loan Pre-approvals within 24 hours 7 days a week. As a result, you quickly focus on the fun part – shopping for a your new home. Call today to get your Mortgage Pre–Approval started.
Team Phone: 602.435.2149
Team Email: Team@JeremyHouse.com
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By Jeremy House