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Union Home Mortgage Review – The 3 Things It Takes To Get Pre-Approved | Liberty Home Mortgage

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Union Home Mortgage Review – Best Deal Right Now?

Getting pre-approval for your mortgage is the first step of buying a home in Ohio. Liberty Home Mortgage explores the process of pre-approval with lenders and specializes in working with people who have had past credit issues.

Call Khash Saghafi today at 1-440-838-5291 or visit our application page directly at http://www.libertyhomemortgage.org/lp-videos and get started!

Transcription:

Hi, I’m Khash Saghafi of Liberty Home Mortgage, and you’re watching the greatest video in mortgage education. And today we are talking about the three things it takes to get preapproved to purchase a home.

So you’re sitting around and you’re thinking about purchasing a home but naturally you’re wondering, what is the process I have to go through. In order to go purchase a home of course, you want to use a real estate agency. And no real estate agent will take you around without having a pre-approval in hand. More so than that, no seller is going to accept an offer by you without having a pre-approval with that offer. So what is the process to getting a pre-approval? There are a lot of different lenders out there and they do it a lot of different ways. But at the end of the day, there’s only one right way to do a pre-approval. And there are three things you have to know about it.

Step one of getting a proper pre-approval done is having the lender call all three credit bureaus. Credit scores, credit bureaus, credit history, there are three credit bureaus in the United States, Equifax, Experian and Trans Union. The question to ask the lender who you are working with is did you check all three credit bureaus. If they did not, run as fast as you can.

The second thing is turning over your documentation in regards to your income and assets. Your tax returns, your pay stubs, your w-2’s, bank statements, maybe your divorce decree, your bankruptcy papers. Any late payments on your credit, you’re going to need letters of explanation on all of that. It’s a lot of paperwork but in order to get a proper pre-approval done, you have to turn that over to the lender. So make sure before they give you the pre-approval, they’re doing their job correctly and collecting all of that information.

Last but not least, there is a computer program that underwrites this entire industry. It is called Desktop Underwriter. It’s a program that we have to move borrowers through to see what the preliminary decision is about the loan. Make sure you ask your lender, did you run me through Desktop Underwriter. Anyone who does not preliminarily, before giving that pre-approval is not doing a thorough job for you.

As always of course visit our website for more information. Like our Facebook page and share it with your friends. You never know which one of your friends is going to need this information. And when you’re looking to get a pre-approval call us at 440.838.5291. And you better believe we do check all three credit bureaus, we collect all of your documentation, we do run you through Desktop Underwriter before we hand you a pre-approval because we want that pre-approval to mean something . And with us it does. Until later everyone I’m Khash Saghafi of Liberty Home Mortgage thank you so much.

Thanks for watching the Union Home Mortgage Review video!

Watch the Union Home Mortgage Review video on Youtube

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