The Home Buying Process

Guys, let’s face it, I know I’m not the sexy one in the transaction. You’re not going to want to talk to me about your credit, your income, or your assets. You’re always going to want to go to a realtor because that’s the fun part. I’ve done that many times myself in buying homes. The first thing I want to do is start at the house. But the reality is, we do need to start on the process of getting you pre-qualified, and just making sure that you’re on the right path. We3 need to make sure you understand the pricing of the homes and how that impacts your payments and out of pocket expense. That’s really what it is.

So first thing, we’re going to have a conversation with you. We’re going to have a conversation about several things. Where you’ve lived and worked for the last couple of years, your income, your assets, and we’re going to look at credit. And at that point, based on that conversation, we’re going to be able to give you confidence the price point of the home that you’re looking for is within your wheelhouse. We’re going to let everybody know, that you’re pre-qualified. But, there are three steps to this whole process. There’s that part, which is the pre-qual, and then we have the pre-approval. Now, this is like trust and verify approach, where we’re going to trust everything you’re telling us over the phone, or what you filled out online on my website, bobmortgage.com. You’re going to be able to trust that.

Now, we’re going to verify everything. We’re going to ask you for copies of pay stubs, W-2s, and bank statements, just so we can see it all there. And at that point, we’re issuing a pre-approval. That is designed to help provide clarity, to help reduce stress and provide certainty around what it is that you’re about to execute on, so that when you guys get with a realtor and you write a contract, you know without question, you’re going to be able to perform and the loan is going to get approved. And then, the last phase is just the final approval, which is when you’re under contract. We have to get an appraisal to make sure the house is worth what you’re buying it for. So we’re, really guys, just trying to make this into three different sections, really simple, really fast and easy. But, that’s the three things, and the first one starts with the conversation.