Hey Facebook! It’s Adrianne with JP & Associates Realtors, and I’m a full-time agent here in the DFW and you can find me on the web at https://www.liveindallastexas.com. Today I wanted to make a really quick video blog about the first step in purchasing a home. I’ve talked to a number of you who wanted to purchase last year and kind of got thrown off your square, and then we have the interest rate increases at the end of the year that were a bit of a deterrent. So if you’re back on the fence I know you’ve heard that now’s a good time to buy, but there are interest rate increases that we are expecting this year and so if you’re on the fence you might want to make a decision as to whether or not you will purchase.
So the first step and purchasing a home is getting pre-approved with a lender. All lenders in the DFW have their applications that are available to you online 24/7. To complete the application takes about 10 to 15 minutes once you are pre-qualified, and the lender will call you or notify you that you are pre-qualified and they will request additional documentation from you. You want to make sure that you respond to your lender requests very punctually so these requests are not limited to but will include two years of tax returns it will include paycheck stubs and any and all bank statements that you have. I will encourage you to look at your relationship with your lender as valuable. Your lender is going to help pull this thing off for you and so if they are reaching out to you for documents during the 30 to 45 day process of you purchasing a home, you want to make sure that you’re checking your voicemail a couple times a day of checking your email and your text messages so if there is anything that the lender needs from you, that you are able to respond to them in a timely fashion.
A slow response can be detrimental to your home purchase. Remember you’re under contract and so any dates that fall outside of the contract can put you at risk for not being able to purchase a home that you would like.
So again: if you hear from your lender, respond to your lender in a timely fashion – not within 24 hours, but as soon as you are free – all of the documents that they request from you. Like I shared your tax returns your bank statements and your paycheck stubs be sure that you have those in easily upload above format so even before you go to get pre-qualified make sure that you have that information at hand so that when it’s requested you can get it over right away. Your Realtor and your lender want to make sure that you have a smooth transaction and we want to work together to make sure that you receive excellent service and so your responsibility and that is just making sure that you are responsive to the needs of the lender and your realtor getting ready to get ready.
Before you go to get pre-qualified, maybe six months out, take a look at your credit report. You want to make sure that everything on your credit report is accurate. Make sure that your score is accurate – become knowledgeable about the market in DFW the inventory. Right now the market moves very quickly; the market is bananas so making sure that you know what you want what your must-haves are so that when you see the home that you qualify for it you can get that home. There are multiple offers here in Dallas and the DFW area homes are going for over the asking price so your response time to your Realtor and to your lender are vital.
Lastly, when selecting your realtor and your lender you want to make sure that there’s a good online presence. When choosing your Realtor and or your lender go online and look at reviews see what past clients are sharing about their experience with the lender and with the realtor. Those are always good indicators of how your transaction will go. If you have questions comments or concerns again please feel free to reach out to me anytime you can get me on the web at https://www.liveindallastexas.com – there’s a contact us link if you want to just send your message via the contact us link then i will get back to you within a couple of hours and if you’re on facebook social media you can find me at live in dallas Texas calm on facebook join the page you can kind of get updates on what’s on the market and also edit live in Elvis XCOM you can set up your own listing account so you can see what’s on the market and shop from there. Again I’m Adrianne with JP & Associates Realtors. Please call if you have questions, comments or concerns, and I will see you next time have a good week!