February 23, 2023

Getting Pre-Approved for a Home Loan

18 minutes

In this episode, Joey, Scott, and Max (the studio dog) discuss the importance of getting pre-approved for a loan before buying a home. They emphasize the significance of knowing your budget and having proof of funds to avoid becoming "home broke". They also explain how pre-approval can make you a more serious and qualified buyer, increasing your chances of getting the home you want.

Key Points:

Knowing your budget is crucial before looking at homes.

Getting pre-approved for a loan helps determine your budget and shows sellers that you're a serious buyer.

You need proof of funds and past tax returns to get pre-approved.

According to the residential purchase agreement, a pre-approval letter is required to make an offer on a home.

All cash buyers still need to show proof of funds.

Being a solid buyer with the financing can outweigh all-cash buyers.

A seller wants a buyer who will close the deal and get top dollar for their home.

Getting pre-approved starts the loan process and gives peace of mind.

Getting pre-approved for a loan is a crucial step in the home-buying process. It determines your budget, shows sellers you're serious, and starts the loan process. By having proof of funds and being a solid buyer, you increase your chances of getting the home you want and ensure a smoother home-buying experience. Don't forget to get pre-approved before looking for your dream home!

Bitter Realtor Podcast is home to all things Los Angeles real estate. If it’s got four walls and a roof, we’re talking about, bitterly!

Questions about getting pre-approved? Reach out to Joey and Scott!

DM us on IG @bitterrealtor.

Email us [email protected] or [email protected].

Call us! Joey--(310) 210-5958. Scott--(310) 963-7867.

Berkshire Hathaway HomeServices California Properties DRE01317331

Joey Rockenstein DRE02027987

Scott Goldman DRE02029192

JOEY ROCKENSTEIN ON IG: JOEY ROCKENSTEIN

SCOTT GOLDMAN ON IG: SCOTT GOLDMAN

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