Your First Move When Buying a Home

by Vince Liuzzi
Executive Vice President and Chief Banking Officer
DNB First


It’s “the one.”

You knew it the very second you saw it, and that you had to have it.

It’s everything you wanted and so much more.

It’s your perfect home.

You excitedly make your offer to purchase it, only to discover that there’s one problem standing between you and its welcoming front door – others want it, too.

Unfortunately, this is an all-too-common scenario for prospective home buyers shopping in today’s competitive real estate market. They come across the home they desire in the perfect location and find themselves competing with other buyers.

There’s one simple step you can take to put yourself in a better position to win any home buying competitions you may face – get pre-approved for a mortgage before you start shopping for a home.

One of the smartest moves you can make.

With a mortgage pre-approval, a lender evaluates and reviews your credit and financials to determine if you can actually qualify for a mortgage and the amount you can borrow. A pre-approval differs from a mortgage pre-qualification in that the lender actually verifies your financials, whereas a pre-qualification is simply a calculation based on the numbers you provide.

A mortgage pre-approval offers a very important benefit: it tells a seller that you can afford to buy their home, giving you a powerful negotiating edge. Pre-approvals also allow you to –

  • Proceed to closing faster. Since your credit and financial information has already been verified, you’ll save time.
  • Focus your home search. If you’re pre-approved for a mortgage before you start your home search, you can narrow your focus to homes in your price range.

What you’ll need.

Qualifications vary by lender, but in general, you’ll need to provide the following financial information to get pre-approved for a mortgage:

  • Income and employment verification. Self-employed individuals may need to provide additional documentation.
  • Bank account information
  • Tax returns
  • Information on your outstanding credit/loans

Free pre-approvals under our roof.

As an experienced mortgage lender, DNB First provides free pre-approvals as well as expert guidance every step of the way in the home buying process. Talk to us today; it just might get you in the door to that perfect home.


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