If you’re looking to buy a house in Kalamazoo, MI and want to have an advantage over other buyers, there are important steps to take. This spring, it’s crucial to get pre-approved for a mortgage. This means the lender will review and pre-underwrite all the necessary documents you’ve provided. In Kalamazoo’s competitive real estate market, having a pre-approval can make your offer stand out among the rest.
What The Lender Will Need
When you apply for a pre-approval, the lender will typically ask for the following documents:
- Proof of income: this includes recent pay stubs, W-2s, and tax returns.
- Proof of employment: this includes verification of your employment status and length of employment.
- Asset statements: this includes bank statements and investment account statements to verify your savings and assets.
- Credit history: the lender will pull your credit report to review your credit score and history of credit use.
- Debt information: this includes any outstanding debts, such as car loans or student loans.
However, pre-approval doesn’t guarantee that your loan will actually close. To increase your chances of a successful loan closing, it’s important to give your pre-approval to an underwriter.
An underwriter will review your financial documents and credit history to verify your eligibility for a loan. They may also request additional information to further verify your financial situation. By giving your pre-approval to an underwriter, you can ensure that you’ve completed the necessary steps to secure a loan and make a successful offer on a home.
Working with the right lender can also make a big difference in the loan process. Eric Bryan at GVC Mortgage is one of the best lenders to work with in Kalamazoo. He has years of experience helping buyers secure mortgages and close on their dream homes. With a streamlined process for underwriting, GVC Mortgage can help ensure a smooth loan process and increase your chances of a successful loan closing.
Partnering with a top real estate team like The Zac Folsom Group can also give you an advantage in the competitive Kalamazoo market. Led by founder Zac Folsom, our team of expert real estate agents can guide you through the homebuying process, from finding your dream home to closing on the loan. We can help you understand the importance of pre-underwriting and ensure that you’re prepared to make a successful offer. Don’t let your dream home slip away – partner with The Zac Folsom Group and GVC Mortgage to make it a reality.