hands-woman-legs-laptopIf you’re a current homeowner and looking to refinance, you can stop reading. Pre-Approval is only applicable to clients that are looking to purchase a new home. If you are working with a real estate professional, one of the first questions they will ask is “How much are you Pre-Approval for?”

Buying a home is a huge investment and a very personal experience. Just imagine finding the home of your dreams and finding out after the fact that you can’t qualify for the purchase of that home. Getting pre-approved is about creating a parameter of expectations and setting your home purchase on the right track from the onset of your search.

What to Expect During Pre-Approval

The pre-approval process is an exciting time of discovery and The Novotny Lending team does everything it can to make the experience painless.

Client Responsibilities during the Approval Process:

  • Complete the online loan application
  • Provide the most recent two pay stubs for all borrowers
  • W2’s from the last two years for all borrowers
  • Taxes from the last two years for all borrowers
  • Last two statements for all checking, savings, investment, and retirement accounts
  • Additional requirements that may be needed based on your personal scenario
  • Consultation with The Novotny Lending Team

When we meet, whether it is in person, over Skype, or over the phone, we will help determine how much of a home you are able to qualify for based on your income, assets, and current liabilities. It is also important to spend time during this discussion understanding what type of home you will be considering, such as a condo, town home, or single family home. During your consultation our goal is to better understand your overall needs and determine what you can afford so that we can create a financing strategy that helps you get into the home of your dreams.