How to Get Pre-Approved for a Loan

Hey, everyone! If you're in the market for a new home in the Green Bay area, I've got some great advice for you. It's Chris Spiering with Dallaire Realty, and today I want to talk about the importance of pre-approval before you start your home search. I'm joined by an expert from Associated Bank, Seth Johnston, who can help guide you through the process.

Looking to buy a home? Being prepared matters 

Let's be real, we all have dreams of finding that perfect home that speaks to us, but the reality is that the perfect home doesn't always come at the perfect time. Sometimes opportunities arise quickly, and if you're not prepared, you could miss out. That's why it's crucial to get pre-approved for a mortgage before you start looking at homes.

I know many of you may feel overwhelmed with the process, but it's not as difficult as you might think. It's just a simple one-hour conversation that can answer a lot of questions you may have. It doesn't cost you anything, and there's no down payment required. During this conversation, you discuss your credit score, review your credit report, and identify any areas that need improvement. By doing this, we can help you secure a better interest rate when the time comes.

Having a payment you are comfortable is most important

Another critical aspect of pre-approval is determining what you can afford. We can help you calculate the difference between what you can afford and what the bank would qualify you for. By discussing your monthly expenses and budgeting, we can come up with a realistic price range for your new home. This is a more responsible approach than just taking whatever the bank gives you for a maximum.

Once you know what you can afford, you can start looking at homes that fit within your budget. This is where a professional real estate agent comes in. We can recommend trusted agents who know the area and can help you find your dream home. They can help you navigate the market, answer questions about specific properties, and negotiate with sellers to get you the best deal.

Of course, it's not just about finding the right home. You also need to know what to expect for rates, what your loan amount will be, and how long your pre-approval will last. We'll discuss all of this with you, so you know exactly what to expect.

Finally, we'll talk about the different types of pre-approval, including conventional and FHA pre-approvals, and the pros and cons of each. We'll also explore the different grant and program options that may be available to you.

The right team makes all of the difference Chris Spiering & Seth Johnston can get you to winner circle 

All of this may seem daunting, but with the right help, you can navigate the process with ease. So, if you're thinking about buying a home, don't hesitate to reach out to Seth Johnston at Associated Bank, and Dallaire Realty. We're here to help you find the home of your dreams and make the process as stress-free as possible.