Holly Walther Lending Team Fun Fact Friday Pre Approval Part 1

Holly: Hey guys, happy Friday. It’s Holly and my little pall, Ms. Daisy, our mortgage pup. And we are here with your fun fact Friday. So this week we thought we would split it up well this week and next week, and talk about the importance of a pre-approval part one and part two. So we all know a pre-approval. What is that? That’s when you’re going to call us or go on our website, you’re going to do a full loan application. We are going to run credit. We are going to get all your employment history. We’re going to get all your financials, pay stubs, W2s, we are going to review all of that. Now, why is that important? Well, one, it’s important because the seller wants to know you’re serious. Your real estate agent wants to know you’re serious before they start spending their time with you. But most importantly, it’s going to allow you to know your numbers.

Now that is something that we are highly focused on here at Holly Walter lending team. So often when I get calls where people have been shopping around lenders, I’ll ask them questions and they’ll say, yeah, I’m pre-approved for 350,000. Well, that’s great. What does that look like in a monthly payment? Oh, I don’t know. The lender didn’t tell me about that. That is a terrible response guys. You need to know your numbers it’s great. If you’re pre-approved for 350,000, but what if that monthly payment is $700 over what you want to spend each month? You need to know your numbers. You need to know, what does that approval look like from a monthly payment standpoint? What does that approval look like from a cash out of pocket at closing? And does that meet not only your short-term goals, but also your long-term goals and the needs of your family? So that is the importance of pre-approval part one, be sure to check us out next week. Have a great weekend and we’ll see you soon.



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