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  • Rebecca Richardson - Mortgage Consultant

The Importance of Being Preapproved


The Charlotte market is hot, which is great. Except if you're a buyer and you're running into a competition, let's say that looks like multiple offers, or maybe having a tough time negotiating with the seller.




Beyond having an awesome realtor, what can you do to put yourself in the best position possible to get what you want? The thing that you can do is that you can get fully pre approved. What that looks like is where you will go ahead and supply the supporting documentation to support the information that you provided in your application. Your income documents, like WTF pay stubs, tax returns, your assets, things like bank statements, retirement statements, any kind of information if you're going to get any gift from someone.


What that allows us to do as your lender is we go ahead and review those documents. And we get the underwriter to sign off on those income and asset documents the person that will ultimately give you final approval. So then that way, you can go back to the seller, and you can tell them that you not only have had your credit pulled, you've spoken with a loan officer, but you actually have had your loan approved pending that property selection. So what that does, that helps to come in even the playing field a little bit and put some of the power of negotiating back in your corner. So then you can come to a great win, win and get your dream home under contract.


If you have any questions about how to do that or what that means. I would love to speak with you and I'll talk with you soon.



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