Home Buyer, You Need a Pre-Approval Letter: 5 Things to Help You Get It! by Heather Bragg

Money Home
7 years ago

Home Buyer, You Need a Pre-Approval Letter: 5 Things to Help You Get It!

Getting a pre-approval letter from a mortgage broker is necessary to even look at many homes. Follow these tips from mortgage broker Jennifer De Vries when going in for your pre-approval letter!

  • Know exactly how much you are comfortable paying monthly. This is different than what the bank will be willing to commit.
  • Take inventory of your other monthly obligations. Don’t forget child support, alimony, separate maintenance and co-signed obligations.
  • Try to reduce revolving monthly debt (credit cards, student loans) as much as possible.
  • Check your credit to understand your position.
  • Organize your financial information including tax returns and pay stubs.

Now go get that letter!

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