What is Loan Preapproval?
Loan preapproval is proof from your lender that you’re actually qualified to purchase a home or property, as long as your financial circumstances don’t change significantly between the time you start looking and the time you make an offer on a home.
How Do You Get Preapproved?
You’ll have to provide some financial information to your lender. That includes:
- Your income
- Amounts you have in savings
- How much money you have invested
- Your expenses
- W-2 statements
- Paycheck stubs
- Bank account statements
Why Should You Get Preapproved?
When you’re preapproved, you’ll know exactly how much house you can afford. You won’t waste time looking at houses that are out of your price range, and there’s another benefit, too: You’ll be able to make an offer that a seller will take seriously. When you have preapproval, the seller knows you can actually get the money you need to buy the house.
Do You Need to Talk to a Lake City Realtor® About Buying Property?
Whether you’re buying a house, a farm, or a tract of timberland, we can help you find something that’s just right for your needs.
Call us at 386-243-0124 or contact us online. We may be able to help you find the perfect property in Lake City or the surrounding communities.
In the meantime, check out our:
- Waterfront residential
- Waterfront land
- Bank-owned and foreclosures
- Short sales
- Paved road frontage
- Non-deed-restricted land
- Wooded oak tree land
- Land for land home combo