I am a novice at property purchases and am looking to buy a 1-2 br condo. How do I go about getting pre-approved for a mortgage?

Asked by Bill_rafferty, Lincoln, RI Tue Sep 18, 2012

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Ryan Rossi, Agent, Smithfield, RI
Thu Oct 17, 2013
Hello, I am sure you've been offered much advise. I would refer you to a lender her name is Anna Akaian, from Best Mortagage New England in Cranston she where they are located. She can pre-approve you. You can get up to 3 that does not affect your credit rating. Contact for Anna is:
Akaian@bestmortgagene.com If you get pre-approved, then we can meet to discuss what your looking for, where your looking for it, and what your payment comfort zone is. I am an ABR that works with Buyers, and I am also a listing agent so if you need a free CMA on your condo I can help you with that too.

Thank you,

Shelly D'Amico, ABR e-Pro
Member of the National Association of Realtors
401-486-0157 Call/Text
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Jean Allard, Agent, North Attleboro, MA
Tue Sep 18, 2012
Hi Bill,

Juan's advice is right on target. Before you get your heart set on a new home, be sure you can afford it. I've seen people lose out on a home because they didn't have a pre-approval letter accompany their offer.

I would be happy to guide you along the process. If you would like to meet, give me a buzz and we can grab a cup of coffee.

Jean Allard
Keystone Real Estate Group, Inc.
(401) 783-1699
0 votes
Juan Sanchez, Agent, Coral Gables, FL
Tue Sep 18, 2012
Hi Bill,

I see you have already received some good advice; however, the best place to start is at home.

Gather the last 6 months of your financial information first; bank statement, credit card statements, car payments, health insurance premiums, and record of income. Collect records for everything that you pay for monthly. Although, it may not be necessary at this time, you should pull up your credit score just to see where you are.

Once you have gathered all of this information you can then start the process of pre-approval. In fact, you can start online. Go to your favorite bank or lender’s site and enter all the information they request into the calculator. Be as honest and accurate as you possibly can. This information will later be verified by the lender when you apply for a loan. By now you should have all of this information at your finger tips since you would have collected all this beforehand.

Once you have been pre-qualified, you will have an idea of what you can afford to pay base on the income and expenses you provided. If any of the information you provided the bank or lender changes, you must go through this process again.

You are now ready to work with a licensed agent. This service is free; the agent commission is paid by the Seller.

If you have any other question, please contact me at 786.302.0351 or email me at juan@insideMIAMIrealestate.com.

Juan Sanchez - Broker Associate - Real Living FSR - Coral Gables, FL USA
0 votes
Jeremy Bailey, Agent, Pascoag, RI
Tue Sep 18, 2012
Hi Bill,

Call Mike Demarse at Northpoint Mortgage in Cumberland. He's excellent. He will run your credit report and if there's anything wrong, he will advise you on how to correct it.
Michael Demarse
Mortgage Consultant
Northpoint Mortgage
NMLS # 14123
0 votes
Terry Bell, Agent, Santa Rosa, CA
Tue Sep 18, 2012
Before you go to a bank or other lender, you should get your free credit report that you are required to be allowed once a year and know what your credit score is before you go to a bank. If your credit score is a little weak, try and improve it by paying off a few things, or call a loan broker that has access to more types of loans and ask advice.
0 votes
John Repoza, Agent, Westerly, RI
Tue Sep 18, 2012
Hi Bill you can call your local bank and ask for a pre-approval letter
it's simple and the first place to start your search
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Tim Moore, Agent, Kitty Hawk, NC
Tue Sep 18, 2012
Step #1 = go speak to a lender, mortgage broker or loan officer at the bank. Speak to several and sign nothing and pay nothing.

Step #2 = take the info gained in step #1 to a Realtor and get them to help you find homes to look at.

Good luck
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