Home Loan Pre-Approval

If you've ever seen an episode of Property Virgins on HGTV, you know that early in the show the agent asks the buyers, "How much can you afford?" 

Then, flashing across the television screen appears the buyers' down payment amount, plus the amount that they have been pre-approved for. 

The sum of these two numbers reflects the total buying power. 


There are several benefits to getting a pre-approval as early as possible in the home buying process: 

•  It enables you and your agent to look only at homes that are truly in your price range 
• You and your agent are aware of any conditions that may be associated with the loan 
• When you are ready to make a bid on a house, your offer is stronger 
• You get to avoid the possibility of finding out that you can't actually afford a house that you want 

Okay, so what exactly is pre-approval? 

 You will work with a loan officer that will ask you for documents to create a sanpshot of your financial health. A credit check will likely be run.  The pre-approval process will make sure that you meet certain criteria to qualify for a loan.  

The loan officer will then supply you with a pre-approval letter. This letter will go over the amount that you are pre-approved for and include any conditions of the loan.  

It's important to note that a pre-approval does not commit you or the lender to a final loan. 

You will want to make sure that you work with a trusted loan officer to ensure that you are getting the most accurate portrayal of your buying power. Your agent will have connections with lenders that have been vetted already. Use that resource. When I work with clients I can recommend trusted and experienced lenders. 

Once you identify potential lenders, let them know that you will be talking to multiple lenders in order to get the very best terms.  I recommend contacting a minimum of two lenders to find a product that best suits your needs.

The loan process is very detailed.  The very best advice that I can give is that you ask as many questions as necessary of both the lender and your real estate agent to make sure that you understand what is happening every step of the way.

You can find additional information about the pre-approval at REALTOR.com 


Need assistance to begin your search for homes in Powhatan, VA?  Feel free to call or text me at 804-350-2328!
Email: lyndasellsvirginia@gmail.com
Website: lyndasellsvirginia.com

Lynda Heithaus - Real Estate Agent in Chesterfield, VA

Buying or selling real estate in Chesterfield, VA or surrounding areas?  
Visit lyndasellsvirginia.com for more info!

5 Tips for a Successful Open House

Visit Lynda Heithaus - Real Estate Agent in Chesterfield VA!

You'll be working with your agent to prepare for a stellar showing of your home when you are ready to sell. Here are a few tips to keep in mind:

1 ~ Get the word out!  Your open house can only be successful if people know it exists!  About a week before the event, post your Open House on Facebook,Craigslist, hand deliver fliers, and email people you know through work, church, clubs, etc.  Mention it every chance you get.  You just never know which connection will result in a sale!

2 ~ Be mindful of first impressions. Make sure the entrance to the home is clean, fresh, and inviting with a simple wreath, potted plants, etc.

3 ~ Share your testimonial about living in the home.  Write a little note to leave on a kitchen counter highlighting some of the things that you've enjoyed about living in the home. Your realtor can use this to share with potential buyers during the Open House.

4 ~ Have soft background music playing during the Open House, if possible.  Appealing to the senses using soft scented candles as well is a trick often used.  Be careful, though.  A candle too strongly scented may be off-putting.  Use your best judgment.



5 ~ Place directional signs.  24 hours prior to the Open House, place direction signs - the standby arrow indicating "Open House this way".  You can even decorate your signs with balloons, ribbons and other accoutrements to draw attention.

Happy Valentine's Day!

Happy Valentine's Day!  Whether you are looking for a house to call home or you are selling your current house to find a new home, keep me in mind and drop me a line!