Pre Approval Timeline - Home Loan Steps for Buyers (step 3 of 11)

Pre Approval Timeline – Home Loan Steps for Buyers (step 3 of 11)

Опубликовано: Год назад

John Cunningham eXp Realty

Длительность: 02:00
Pre Approval Timeline – Home Loan Steps for Buyers
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0:00 Pre Approval Timeline – Home Loan Steps for Buyers – Intro
0:45 Moving Kit Program – get thousands back, Get Apple Home Products When You buy with John
1:07 Converse with your loan officer
1:18 Document your loan with w2’s, paystubs, bank statements
1:25 Being prepared with your documentation will help you fast track the loan approval timeline
1:45 Wrap up Home Loan Steps for Buyers for the Pre Approval Timeline

_______________________________Video Cheat Notes_______________________________
This is an important step in the house-shopping process to get pre-approved. You will be required to submit the important documents that your lender needs to verify whether you have sufficient income to pay off a housing loan. Knowing your exact loan amount allows you to compare rates among lenders and spot those who overcharge.
Your Pre Approval timeline can vary. There are many things that you cannot control. For this patience is required while you are going through the home loan steps of a homebuyer. At times, all you can do is wait on your team members to do their part.
Lucky for you the pre approval timeline is not all out of your hands. Much of this is dependent on you and your proactiveness. Get things done sooner and you can expect a quick close. Drag your feet and you will end up needing more time to get the job done.
Typically you can save time by getting the lender the information they ask for. Common documentation includes:
✔ 2 months paystubs (or tax returns if self employed)
✔ 2 months bank statements (front and back – all pages (even blank pages)
✔ 2 years of w2’s
✔ Authorization to pull credit for all borrowers
✔ . Proof of reserves and down payment money
But wait, there’s more. There’s ALWAYS more fun to be had when going through the home loan process. Your loan approval timeline will expand or contract depending on your ability to respond to requests for other documents that the loan underwriter may want. Just be ready. The request for additional documentation always comes at the most inconvenient time. This is why it always pays off to have your packet ready and accessible. Save any documents on your computer that you think may come into question. Being able to respond quickly is the key to keeping small problems turn into something that is not manageable.
_______________________________Helpful Resources_______________________________
✅ Home Buyer Checklist:
✅ Home Buyer Playlist:
✅ Home Seller Playlist:
✅ Moving Kit:
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I’m Phoenix real estate agent John Cunningham with eXp Realty. Thanks for stopping by my channel. Every Thursday I add new videos for you. The topics span the gambit and I always want to give information out that is going to help you with your real estate goals. If you have a real estate topic you’d like me to cover let me know. You can do that by typing out your topic/question in my RUplayers video comments area.
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