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Showers Bring May Flowers AND Spring Home Buying Fever – Are You Pre-Approved Yet?

Apr 3, 2018

Why is a pre-approval so important?

In this market, homes are selling almost as fast as they are going on the market. If you don't have a pre-approval when you look at a property, it might be too late by the time you make an offer. Having a pre-approval letter to present with the offer from a reputable lender like Residential Mortgage Network, Inc. can be the difference between your offer being accepted or rejected.

What is a pre-approval?

A mortgage pre-approval means you have talked to your lender and decided what loan program(s) best fits your qualification for a home purchase. Your income is verified, credit is reviewed, down payment options are presented, etc. Then, a pre-approval letter is provided to your Realtor to include with your offer to purchase when you negotiate to buy a home.

Our loan officers offer flexible communication options to fit your busy schedule and complete your pre-approval swiftly. We can either meet with you face-to-face and discuss your options, complete a consultation over the phone, or we can email/text. RMN also offers self-service for your convenience. You can visit our website and complete an online application as well as upload your documentation to our secure web portal!

What happens after you're approved?

After pre-approval, we will walk you through the loan process so you know what to expect, and we will share home buying do's and don'ts with you. Additionally, we will go through a cash-to-close estimate with you to prepare you for things like closing costs, prepaid expenses, and monthly payments. Contact Residential Mortgage Network, Inc. today to schedule your pre-approval appointment with our expert lenders!