In today’s real estate market, there are more homebuyers than there are sellers, which makes it tough on buyers to separate themselves from all the other perspective buyers.
Being prepared to make an offer on a home should start way before you even call a realtor. Our suggestion is to call Indigo Mortgage early in the process, when you’ve decided to purchase your first home or to upgrade to a newer or larger home, and work with us to prepare you to make an offer on a home.
This process is a pre-approval, and it lets the buyer know you’ve been approved for a mortgage up to a certain amount. It involves being diligent on all the information needed on the mortgage application.
It includes having a full 2-year work history with dates, addresses, phone numbers; 2 years of W2s or tax returns; 2 months of pay stubs; an accurate 2-year address history; and 2 months bank statements available. You’ll need to show where the down payment will come from.
If we can complete an accurate application and have supporting information for what’s on that application, Indigo Mortgage can then submit that loan application to the underwriter an get you a conditional pre-approval within a day or two, the first step toward a full approval for a mortgage loan.
This way when you put in an offer to purchase a home, we can let the seller know you are pre-approved and have given us all the vital information we need to get your loan funded. When you call Indigo Mortgage in Albuquerque, we will help you put together a solid complete application so that when your pre-approval letter gets to the seller, you and they will have confidence in you being vetted for a mortgage loan.
Indigo Mortgage has been helping New Mexico homebuyers since 2003. Give us a call to get started on your mortgage application for your new home!