You don’t want to just get financing, you want to get the right kind and you want to get it as early in the home-buying process as possible. In fact, at ElementsRE, we require our clients to get approved for financing prior to starting the home search – and we help them achieve it as well.

Assembling all the necessary documents up front is essential for smoother, faster loan processing. Submitting complete documents to our affiliated direct lenders results in a much shorter buying process.

Why Obtain a Loan Approval Early

Getting a loan approval before you begin a home search is the sensible step to take for many reasons:

  • You can identify and resolve any issues you might face early on. If the lender gives you a conditional approval, for example, you will have more time to meet those conditions.
  • This will also provide you with ample time to shop around for available mortgage loan options. When deciding which product to opt for, remember that the best fit for you will depend not only on your current financial circumstances, but also on your plans for the property and your long-term goals.
  • You will know what your maximum purchasing power is, which allows for a more targeted and streamlined home search. When you’ve narrowed your parameters, you can search faster and more efficiently.
  • Having a loan approval in hand makes your offer significantly stronger. It tells the seller that you’re serious as well as ready and able to close. In a multiple-offer scenario, this is a decided advantage.
  • Moreover, because you’ve already had time to smooth everything out with your lender, you will enjoy a faster and less stressful escrow.

If you’re seriously considering purchasing a home, connect with us today.

Lender Requirements:

To facilitate the underwriting approval of your loan, you will need to submit the following documentation:

  1. Your personal and business tax returns for the last two years
  2. W-2’s for the last two years
  3. Two months of recent bank statements
  4. One month’s worth of your most recent pay stubs
  5. Copy of driver’s license & social security card