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If you’re a buyer looking to get pre-approved, what initial steps must you take to ensure that you eventually have a strong offer to put forth?

According to Michael Freeman of Fairway Mortgage, the first and most important step is to identify a reputable lender as early as possible. This means someone who can be referred to you by a real estate professional. By meeting with a lender early, you give them a chance to gather all of your documentation and give you a good idea of what you can afford.

As far as documentation goes, they’ll need all your personal identifiers so they can pull your credit report, including your tax returns, pay stubs, and asset documentation. The more documentation you can provide, the better information they can give you.

Another reason lenders prefer to meet with you as soon as possible is so they can improve your credit score. You credit score greatly impacts your purchasing power because it affects your insurance rate and mortgage rate. You may have a 680 credit score—which is great—but if they can tweak it and bring it up to, say, 720, that can make a huge difference.

If you have any more questions about the pre-approval process or you’re ready to take the necessary steps to get pre-approved, you can contact Michael Freeman at his team at www.teamfreemanhomeloans.com.

If you have any other questions or real estate needs, don’t hesitate to reach out to me. I’d be glad to help you.