May
30
Preapproval

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You’re ready to start the home search, but now what? Before you start touring homes, you need to get preapproved for a mortgage.


Mortgage preapproval basically means that, based on your information, you’re in a good financial position to be able to take on a loan. It also tells you how much of a loan you can receive.


There’s a couple of documents you’ll need in order to go through the preapproval process…
📄 Identification
📄 Proof of (stable) income
📄 Proof of assets
📄 Debt statements from other lines of credit
📄 Other documents like down-payment gift letters


Once you get these documents, your mortgage lender will run the numbers to see how much of a loan you qualify for!


Have questions about getting a mortgage? Send me a message!


#PrecisionRealtyUtah #mortgage #preapproval