Sentences with phrase «real preapproval»
With a real preapproval, the lender will verify your income documentation and not just check your credit.
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You have to have a preapproval and it must be a real preapproval where the lender has verified not just your credit, but bank statements, tax returns — and I call the lender to verify that.»
Not exact matches
In fact, some real estate agents and home sellers won't accept a purchase offer without a copy of your preapproval letter.
With knowledge of the VA's requirements, an experienced real estate agent can help you find the right combination of home that meets your needs, is within your preapproval price range and that meets the VA's minimum property requirements.
Preapproved borrowers often receive a preapproval letter, which can be included in an offer to purchase real estate.
A prospective VA homebuyer with a preapproval letter is a welcome sight among home sellers and real estate agents.
Faulty lender preapproval letters are a main reason real estate deals fall through, finds a survey of more than 1,700 practitioners by Campbell Communications for trade publication Inside Mortgage Finance.
However, because of new requirements under the Real Estate Settlement and Procedures Act, many lenders are no longer issuing preapprovals — only prequalifications.
Get a Broker and Lender The first two steps in buying a foreclosure should happen almost simultaneously: Find a real estate broker who works directly with banks that own foreclosed homes and get a preapproval from a lender.
If your real estate agent requires you to get a mortgage preapproval from a particular lender as a condition of submitting an offer to buy a house — even if another lender already preapproved you — would you think something is fishy?
Loan preapproval shows real estate agents and home sellers that you're a serious buyer who can make a strong offer.
In fact, some real estate agents and home sellers won't accept a purchase offer without a copy of your preapproval letter.