Pre-Approval for Nashville Tennessee Real Estate Mortgage Financing

Why Pre-Approval? We want to help you find and finance your new home in Nashville Tennessee Real Estate!

1. Pre-qualification IS NOT Pre-Approval.
   
   Pre-qualification can be done without any paperwork at all....in just a few minutes. You simply tell the loan originator your income and debts and they tell you how much you can qualify for. At that point, nothing is verified and no loan is assured. Your job and credit history is not taken into account.....so pre-qualification only means that if everything falls into place perfectly, you would be eligible for a loan. And every seller's agent knows this.
   
   However...........
   
   Pre-Approval is a whole new ballgame. You actually apply for the loan, your employment is verified and your credit report is obtained. You will know exactly the price home you can afford. The heartache comes in when you find the "perfect" home, but it's just a little out of your price range. Pre-approval makes it so much easier.....on everyone concerned.
    

   1. It saves heartache - You won't have to guess at the price home you can purchase
       

   2. It will greatly strengthen our negotiating position because we can then assure the seller's agent that you are pre-approved to purchase the home.....and that saves the seller a lot of heartache. Many times we can negotiate a lower price because of this assurance.
       

   3. We can close quicker. Your paperwork is done and all we will need at that point is for you to find the house.......then order the appraisal.

Let's Get Organized

A few items you will need to get your financing in order?

1. If you are salaried, you will need to provide the last 2 year's W-2 forms, and one month of paystubs.
   
   If you are self-employed, you will need the last 2 years tax returns and a year-to-date profit and loss statement.
    

2. Do you have rental property?........you will need rental agreements and the last 2 years tax returns.
    

3. You will need the last 3 months bank statements.....and any stock/mutual funds/401k statements.
    

4. If you are divorced, you may need a copy of your divorce decree, and any child support or alimony documentation.

Things to Remember

First and foremost.......DON'T BUY ANYTHING AFTER YOUR LOAN APPLICATION HAS BEEN TAKEN! Especially a car! This will completely change your financial situation and could cause you not to be able to close. Many times the lender will obtain a new credit report just before closing and if they find more debt.......they can (and will) deny the loan.

Don't move money into your bank account unless it has a 'paper trail". If you are receiving money from friends or family....or even your employer, please let your loan originator know and he/she can advise you on how to position this. There are government regulations that must be considered about sums of money.

Let's get started.......click here for your quick & easy pre-approval.