PreApproval Is The First Step To Home Buying

PreApproval Is The First Step To Home Buying

 

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  • Capacity:Your current and future ability to make your payments

  • Capital or cash reserves:The money, savings and investments you have that can be sold quickly for cash

  • Collateral:The home, or type of home, that you would like to purchase

  • Credit:Your history of paying bills and other debts on time

Did you know in the state of Arizona it is a requirement that your Realtor presents a Pre-Qualification document with your offer?

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying and it definitely speed up the process once your offer has been accepted. 

Source: Fairway Mortgage



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Phone: 602-549-9242
Dated: June 19th 2016
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About Penny: Buying and selling a home is a very important event in your life. Whether it be your first home, a ...

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