Are you looking to buy your first home? Getting preapproved for a mortgage is a crucial step in the homebuying process. Here’s what you need to know:
What is a preapproval?
A mortgage preapproval is a lender’s evaluation of your financial information to determine how much they are willing to lend you for a home purchase. It shows sellers that you are a serious buyer and can afford the home you want.
Why should you get preapproved before locating a property?
- Helps you understand how much you can afford
- Makes your offer more competitive in a competitive market
- Speeds up the homebuying process, it can take a couple of hours to a day to get documentation in order so you don’t want being unprepared to be the reason your new home goes with another offer!
How to get Pre-Approved:
- Gather necessary documents like past months of pay stubs, W2 documents, 2 years of tax returns, and current bank statements.
- Reach out to a reputable loan officer to start the preapproval process.
Meet Our Recommended Loan Officers:
1) Sarah Farrell (She/Her)
Loan Officer at Guaranteed Rate
Contact: 508.863.9884 | sarah.farrell@rate.com
2) Meg Kenyon (She/They)
Senior Loan Officer at The Rockland Trust Company
Contact: 508.918.8640 | Megan.Kenyon@RocklandTrust.Com
3) Chad Rankin (He/Him)
Senior Loan Officer/Branch Manager at Guild Mortgage
Contact: 508.417.7740 | RankinTeam@guildmortgage.net
Take the first step towards homeownership by getting preapproved for a mortgage today. Reach out to one of our recommended loan officers to start the process, or reach out to us at (508)933-7812 to connect you with the right fit. Happy house hunting!