{"id":653,"date":"2014-08-18T00:00:00","date_gmt":"2014-08-18T15:38:52","guid":{"rendered":"http:\/\/nexus_themes\/mortgagebroker\/2014\/08\/18\/home-buyers-guide\/"},"modified":"2018-03-30T12:02:56","modified_gmt":"2018-03-30T16:02:56","slug":"home-buyers-guide","status":"publish","type":"page","link":"https:\/\/palmettofirstmortgage.com\/home-buyers-guide\/","title":{"rendered":"Home Buyers Guide"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_full-15d750bd1b332b34c6e70b077ebbccdf\">\n.flex_column.av-av_one_full-15d750bd1b332b34c6e70b077ebbccdf{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-av_one_full-15d750bd1b332b34c6e70b077ebbccdf av_one_full  avia-builder-el-0  avia-builder-el-no-sibling  first flex_column_div av-zero-column-padding  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_image-53978b698db6fa960f43c8eb4fce8620\">\n.avia-image-container.av-av_image-53978b698db6fa960f43c8eb4fce8620 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-av_image-53978b698db6fa960f43c8eb4fce8620 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-av_image-53978b698db6fa960f43c8eb4fce8620 av-styling- avia-align-center  avia-builder-el-1  el_before_av_hr  avia-builder-el-first '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-1516 avia-img-lazy-loading-not-1516 avia_image ' src=\"https:\/\/palmettofirstmortgage.com\/wp-content\/uploads\/2018\/03\/top-home-buyers.jpg\" alt='' title='top-home-buyers'  height=\"460\" width=\"1000\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/palmettofirstmortgage.com\/wp-content\/uploads\/2018\/03\/top-home-buyers.jpg 1000w, https:\/\/palmettofirstmortgage.com\/wp-content\/uploads\/2018\/03\/top-home-buyers-300x138.jpg 300w, https:\/\/palmettofirstmortgage.com\/wp-content\/uploads\/2018\/03\/top-home-buyers-768x353.jpg 768w, https:\/\/palmettofirstmortgage.com\/wp-content\/uploads\/2018\/03\/top-home-buyers-705x324.jpg 705w, https:\/\/palmettofirstmortgage.com\/wp-content\/uploads\/2018\/03\/top-home-buyers-450x207.jpg 450w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-616cd310f4c6bf63bbd1f033802c1165\">\n#top .hr.hr-invisible.av-av_hr-616cd310f4c6bf63bbd1f033802c1165{\nheight:20px;\n}\n<\/style>\n<div  class='hr av-av_hr-616cd310f4c6bf63bbd1f033802c1165 hr-invisible  avia-builder-el-2  el_after_av_image  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-2de302bf1aa3cf4c9157dbe6f50ac7eb '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>The Home Buying Process<\/h2>\n<p>From financing your home loan to being handed the keys, here are the steps to buying a home.<\/p>\n<p>You will find that being an informed individual about the home buying process is empowering for you. Lucky for you that you came to the right place. So let&#8217;s get started buying your first home!<\/p>\n<h2>Pre-Approval<\/h2>\n<h4>What is a pre-approval?<\/h4>\n<p>A pre-approval is a commitment in writing from a lender that a borrower would qualify for a particular loan amount based on income and credit information. Most pre-approval letters are good for 60 to 90 days.<\/p>\n<h4>Why you should get pre-approved?<\/h4>\n<p>There are many reasons why you should get pre-approved. The most important reason you should get pre-approved early in the process of purchasing a home is that you will get an accurate idea of how much you can afford. This will ensure that you only look at houses that are truly in your price range. A pre-approval letter is also essential in a competitive real estate market. If you make an offer on a house without a pre-approval, your offer will not be taken as seriously as an offer from another person with a pre-approval and you could lose out on purchasing the house of your dreams. Additionally most bank-owned homes will require a pre-approval letter from a lender before accepting an offer.<\/p>\n<h4>What is involved with getting pre-approved?<\/h4>\n<p>In order to obtain a pre-approval letter you will need to contact a lender. You will typically be approved in 24 to 48 hours if you provide the lender with all the necessary paperwork.<\/p>\n<h4>Documents you&#8217;ll need to provide to get a true pre-approval:<\/h4>\n<ul>\n<li>Your W2 from the past two years<\/li>\n<li>Your paystubs for the past three months<\/li>\n<li>Your tax returns from the past two years<\/li>\n<li>Your checking or savings bank statements for the past three months (this will likely have your down payment funds in them as well)<\/li>\n<li>Your statements for all your other assets (stocks, bonds, retirement accounts) for the last two months<\/li>\n<li>The name and phone number of your landlord (if you are renting) or your current mortgage documents<\/li>\n<li>Your divorcee decree, if applicable<\/li>\n<li>If you are self-employed: Your business tax returns for the past two years in addition to your year-to-date profit and loss statement and year-to-date balance sheet<\/li>\n<\/ul>\n<h2>5 Things to Know When Shopping for a Home<\/h2>\n<h4>Credit history<\/h4>\n<p>The lender will also pull your credit report and score for you and your co-borrower (if you have one.) Most lenders charge an upfront fee of around $30 to do this.<\/p>\n<p>The lender will analyze your credit report for any red flags such as late or missed payments or charged off debt. Your credit score will affect your ability to qualify for a loan and determine how low of a rate you can get. Generally a score above 720 will get you the most favorable mortgage rates. Your overall debt (minimum credit card payments, student loan payments, car payments, etc.) will be analyzed to calculate your overall debt-to-income ratio. You will also need to provide any alimony or child support payments you are required to pay.<\/p>\n<\/div><\/section><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Get Pre-Approved for a Mortgage, FHA, VA, or USDA Loan - Palmetto First Mortgage<\/title>\n<meta name=\"description\" content=\"Get Pre-Approved for a Mortgage, FHA, VA, or USDA Loan - Palmetto First Mortgage\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/palmettofirstmortgage.com\/home-buyers-guide\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Get Pre-Approved for a Mortgage, FHA, VA, or USDA Loan - 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