How to Get Preapproved for a Mortgage | Your Ultimate Guide!

🔑 Wondering how to get preapproved for a mortgage? This ultimate guide will walk you through every step, answering all your questions about the process. Whether you're a first-time homebuyer or looking to make a move, this video is for you.

In this video:

Introduction to the Pre-Approval Process:
Join Danny Baron from the Baron Group and our preferred lender, Geoff Bostick, as they break down the essentials of getting preapproved for a mortgage. Understand when to start the process and what you need to know to get started without hurting your credit score.

What is a Pre-Approval?:
Learn the key components of a mortgage pre-approval. Geoff explains the three pillars: stable income, credit check, and down payment. Discover how to prepare and what to expect during this critical first step in your home buying journey.

Understanding Loan Products:
Geoff discusses various loan products available, including FHA, VA, and USDA loans. Find out why you don’t need to come prepared with specific loan knowledge and how a good lender will guide you to the best product for your needs.

Determining Your Pre-Approval Amount:
Dive into the factors that lenders consider to determine your pre-approval amount. Geoff explains the importance of income, debt, and how these translate into your potential home buying budget.

Required Documentation:
Get the lowdown on the essential documents needed for pre-approval. Follow Geoff’s “rule of twos” for pay stubs, W-2s, tax returns, and bank statements to streamline your preparation process.

The Pre-Approval Application Process:
Danny and Geoff walk you through the actual pre-approval process. Learn about online applications, digital forms, and secure document uploads that make getting preapproved easier than ever.

Conclusion:
Geoff Bostick provides insights into the simplicity and importance of getting preapproved, making you a strong contender in the housing market. This video demystifies the pre-approval process and prepares you to take the next step in your home buying journey.

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Got questions? Drop them in the comments or reach out to us at [email protected]. We're here to be your trusted resource for all things in the Cincinnati housing market.

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🏠 If you need a Cincinnati realtor for buying or selling a house in the 2024 housing market, we’d LOVE to be your real estate team of choice in the Cincinnati, Northern Kentucky, or Dayton areas!

Check out the links below to get connected:

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⏱️ Video Chapters ⏱️
0:00 - Intro
0:42 - When should I get Pre-Approved?
1:26 - What is a Pre-Approval?
2:18 - Do people need to know which loan product they want?
3:30 - How do Lenders determine how much someone is going to be Pre-Approved for?
4:35 - What documentation do I need to have for Pre-Approval?
5:20 - What do you ACTUALLY do to get Pre-Approved?
6:30 - Conclusion

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