Jose Diaz - Loan Officer
Jose Diaz - Loan Officer en Miami - ¿Buscando Préstamos hipotecarios en Florida? En los últimos años he ayudado a cientos de familias ¡Comprar su primera casa!

Pre-qualification is the initial step in the process of buying or refinancing a property.

Let’s have a chat about your income, credit, available cash. The result of this meeting will be the Approval Letter with the maximum amount that the bank would lend you.

A mortgage loan pre-approval is a document delivered by a financial institution that states that a person could be eligible to obtain a mortgage loan and also, in general, indicates maximum financing limits that could be accessed for the purchase of a dwelling, provided that the necessary conditions for the final obtaining of the credit are met.

The documents needed are:

1- Driver’s License

2- Social Security Card

3- Last 2 years of Taxes (Forms 1040, 1120, W2s, 1099)

4- Paystubs for the last 30 days (30 days paystubs)

5- Last 2 bank statements

Does a pre-approval hurt your credit?

Inquiries for pre-approved offers do not affect your credit score unless you follow through and apply for the credit. If you read the fine print on the offer, you’ll find it’s not really “pre-approved.” Anyone who receives an offer still must fill out an application before being granted credit.

How many pre-approval letters should I get?

To receive these benefits, you only need one preapproval letter. Nothing, though, is stopping you from getting preapproved by more than one lender, and doing so is a good way to see if you can qualify for a loan with lower interest rates and fees.

How long is preapproval good for?

Does a Preapproval Letter Expire? Once you have your preapproval letter, you may be wondering how long it lasts. Your income, credit history, interest rate — think about all the different ways your finances can change after you get your letter. For this reason, a mortgage preapproval typically lasts for 60 to 90 days.

Can you get denied after pre-approval?

Your application can still be denied even if you were pre-approved. Several things could derail your home buying plans and cause the lender to decline your application after pre-approval, such as a change in your credit score, employment, earnings, and debts.

If you are thinking of buying or refinancing a property in Miami, Florida, send me a message in the box below or click here, and I will be ready to provide you with a totally free Financial Advice.

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Get Pre-Approved by Yourself!

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