THE IMPORTANCE OF PRE-APPROVAL
Pre-qualification and pre-approval are two of the most important steps you can take towards when beginning the real estate home owning process. Obtaining both pre-qualification and pre-approval allows you to begin searching for a new home with your potential loan established and accepted in advance.
Pre-qualification is the first step to securing financing. During this process, we will determine the best loan options for your financial situation. Pre-qualification is quick and involves answering only a few questions about your income, existing debt and accumulated savings. It is also important that we discuss your long-term financial objectives. With so many loan options available, we want to select the one that meets your goals. With this information and your consent, I can access your credit report and begin to determine which loans are the best candidates for your current financial situation and long-term objectives.
Pre-approval occurs immediately after we determine which loan program would fit you best. This is written documentation showing that a lender will fully support and endorse you for a loan amount established by the underwriter. To set that limit, we submit a form 1003 Uniform Residential Loan Application containing the information you supplied during the pre-qualification process.
With a pre-approval in hand, you can shop as a cash buyer! This gives you strong negotiating power because the seller will take your offer more seriously. A lender's pre-approval will often convince the sellers to accept a lower offer for the home because they know the financing is in place and the deal is safe.
Veterans United Home Loans is a exceptional service offering support and guidance to our Vets. They are available 24/7 to support Agents and their clients throughout the loan process. On top of that, you will have access to some serious benefits including:
Complimentary appraisal for the home under contract.
Dedicated agent access to underwriting.
Access to Veterans United Lighouthouse Program. Program specifically dedicated to buyers that may need credit consultation.
Complimentary Appraisal (does not apply if user goes online to apply for a loan).
Special 720 Advantage Program for buyer with mid-score of 720 or higher where the origination fee is waived.
In-house credit repair department for buyers that have a credit score of 620 or less. This is free of charge to help improve credit to a qualifying score. After their is a contract, a in-house underwriting is offered too!
Please make sure you go through Tracy Slater to be referred to Veterans United so I can ensure the Platinum Benefits!
The VA Loan Offers Advantages no other Loan Program can Match:
NO MONEY DOWN
Service members and Veterans can purchase a home with zero percent down.
EASIER TO QUALIFY
VA Loan users don't need perfect credit or significant cash reserves to secure financing.
COMPETITIVE INTEREST RATES
The Government backs BA Loans, which gives lenders greater confidence. This ensures VA Loans are consistently competitive with Conventional and FHA loan products.
VA Loans do not require private mortgage insurance, which can save you hundreds on your monthy payment.
Are You Eligible for a VA Loan?
In addition to financing options available to other buyers, service members and Veterans have earned the right to use the powerful VA Home Loan. The program is reserved for those who served, and there are specific service requirements each borrower must meet in order to qualify.
You may be eligible for a VA Home Loan if you met one or more of the following criteria:
You have served 90 days of service during wartime
You have served 181 days of continuous service during peacetime
You have 6 years of service in the National Guard or Reserves
You are the spouse of a service member who died in the lind of duty as a result of a service connected disability
If you would like additional information on how to take advantage of this VA Loan, please fill out the form below and I would be happy to provide you with additional details, and help you save big on the purchase of your next home.
And as always, THANK YOU for your service to this country.