Mortgage Pre-Approval Question

Most Popular Reply

Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
5y

Put in an application with a lender. 

See this reply in the discussion

4 Replies

Jump to latestLatest
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y

    Put in an application with a lender. 

  • Lender · Frisco, TX · Member since 2019 · 546 posts · 270 votes
    5y

    Talk to a lender. Usually you'll need to have a credit score above 620, the down payment requirement varies by occupancy, and stable income that is likely to continue

  • Lender · Sacramento, CA · Member since 2015 · 17 posts · 4 votes
    5y

    Contact a local mortgage broker who you can apply with. Have them explain how much you qualify for, why, and share scenarios with you from different price points.

    Good luck!

  • Angel G.Pro Member
    Moderator
    Rental Property Investor · Colorado Springs, CO · Member since 2016 · 61 posts · 37 votes
    5y

    @Josh Zeloyle along with what other's have shared and ensuring that you're finances are in order, I would recommend two things:

    1. While shopping around reach out to local banks / credit unions in the area that you're investing in.

    2. Be ready to provide documentation as requested to the lender. It's been my experience that the more seamless you make this process for the (i.e. fast response time, provide what's needed when asked) they tend to appreciate that and remember you as an easy client to work with. You can then Build  that relationship with them for future deals! 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.