We do things a little bit differently when it comes to underwriting. We get you fully underwritten up front. This can give you peace of mind and a strong negotiating position when it comes down to making an offer and buying your home. Here’s a few things you should know.
The pre approval process, handled by a mortgage lender, only takes about 24 hours once you gather your financial documents. This should include tax forms, income documentation, and a few other things. Then we look at a few things:
- Your credit score
- How much you earn, how you’re paid, your qualifying income, and your employment history
- Your assets, and how much money you have budgeted for a down payment. Banks want to make sure all of your funds for a down payment and closing costs.
This is when most real estate agents let you go out into the world, find a home, make an offer, get that offer accepted, and then go through what can be the stressful process of waiting for that offer to be accepted. With most agents, once you have the offer accepted, you go back to finish the underwriting process. Many times the process of buying a home gets caught up right here. So we do this before we start making offers on a home. This means you have the peace of mind that you’ve put behind you what can be the most difficult part of buying a home. It also means you have a more firm negotiating position.
With the right real estate agent and the right mortgage lender, you can increase your change of making a successful order, of being properly underwritten, and of getting into your dream home. Let the experts at Awesome Nossum guide you through the process.
This is just one of the ways we do things differently to help you get into the home you want in a very competitive market. You can learn more about how we do things, and about buying a home generally, in our video series Buying a House in Seattle.
