Step 2: Speak with a Lender

There are huge benefits of having a lender pre-approve* you for a loan. By being fully approved, you are like a cash buyer to the seller! This is especially important if you are interested in a foreclosure property. It also strengthens your offer to the seller over any competition.

I know of a family that found a property (before speaking with a lender) and fell in love with it. They later found the home was not in their budget. They were heart-broken. None of the following properties measured up. We don't want this to be your story.

*Pre-approval means the buyer has completed a loan application with a lender and has given them pay stubs, bank statements and tax information. The lender has submitted the package to an underwriter for credit approval.

Now, let's find out what is available!

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