Recently I had a sad call from some prospective homebuyers. They had been looking for eight months for just the right home. Finally, they found just what they were looking for and they called me to start their mortgage pre-qualification. I knew that home would almost certainly sell before we could get them a pre-qualification to give to their real estate agent.
Many homes listed these days hit the market on Thursday, schedule showings for Friday through Sunday and then everyone interested is expected to present their “best and final offer” by Sunday at 5pm. If you are not pre-qualified, you’ll have no chance to buy a home that is listed under those conditions.
Since the pandemic began, most real estate agents are not even willing to show a home to a person who is not yet mortgage pre-qualified. Why should they clear the home out, allow a showing, then come back through and sanitize the place for someone who may not be able to purchase?
Why should a family be expected to spend an hour cleaning up and take their kids and pets out of the home for an afternoon for someone to just come through and browse? These times of showing up for a curious walk through someone else’s home as Sunday afternoon entertainment are gone, at least for the foreseeable future.
All this means if you are serious about buying a home – and it is still a great time to buy a home – you need to put in the effort necessary to show you are qualified to buy. At the Matthew Stevens Mortgage Team, we can even work with you to provide a $1,000 Pre-Approval Guarantee. Your file can be reviewed by an underwriter, and unless there is a problem with home inspection or appraisal, the seller will receive a $1,000 check if we can’t close your mortgage.
What do you need for a mortgage pre-qualification? You need two years of steady employment (it doesn’t need to be the same job), one month’s paystubs, two months’ bank statements, two years of taxes and W-2s. Our team will walk you through the process, communicating at every step and helping you make the best decision for your family.
We can show you what loans options are available to you (VA, conventional, USDA, FHA, etc.) and help you decide what is best for your family. You may be in a position to make a traditional 20% down payment, but you might also be interested in no down payment options as well.
People ask, “How long does the pre-qualification process take?” The answer is normally dependent on how quickly you can submit your documents. We understand that no one actually wants a mortgage, but you do want a home. Nothing helps you settle the mortgage process more quickly than working with licensed professionals who help you through the process.
Working with people you know, like and trust is important. At the Matthew Stevens Mortgage Team, we believe it matters how you treat people. One of the reasons we are powered by Ross Mortgage is their corporate value, Experiences Matter. For you as a homebuyer, investor or real estate professional, that means you can expect we will treat you like we want to be treated.
There is no higher compliment for our team than when real estate agents refer their clients to us or when a homebuyer we helped recommends their friend, co-worker or family member. Are you ready to start your mortgage pre-qualification or learn more about our $1,000 Pre-Approval Guarantee?
Reach out today by calling or texting 270-629-5041 or start your application online at smalltownlending.com.
-by Craig Davis
About the Author: Craig Davis (NMLS #1950037) is a husband of over 25 years to Angie and they have three children: two college students and one married adult that bought his first home with help from his dad! As a member of Matthew Stevens Ross Mortgage Team, you can reach him directly at 270-646-7468 or cdavis@rossmortgage.com.
