Prepare your home loan with success using our
Buyer Ready Pre-Approval Service.
Karen Jones, Senior Certified Mortgage Loan Officer, is thrilled to offer a cutting-edge approach to home buying. The goal is to eliminate uncertainty from the lending process while empowering buyers to make confident decisions. The service offers a stronger Pre-Qualification process thus allowing offers to be as strong as a cash buyer.
What is Buyer Ready? Buyer Ready is an innovative service program that aims to revolutionize the mortgage lending industry, one homebuyer at a time. To fully appreciate its value, it's essential to understand the concept of Lender Failure. Unlike loan officers, who can only pre-qualify and guide homebuyers, underwriters hold the authority to approve or deny loans. Lender failure occurs when a pre-qualified loan ultimately fails to close due to the underwriter's decision, often only days before closing. This outcome can lead to financial distress and anxiety for all parties involved. The Buyer Ready Pre-Approval Service is designed to prevent such situations by providing a comprehensive review of financial documents early in the process. Buyers have the choice to participate in the program.
The program involves a thorough verification of all loan application documents before any offers are made. This proactive approach ensures that the loan file moves smoothly to underwriting once a contract, appraisal, and title work are obtained. With a Buyer Ready Pre-Approval, buyers can confidently shop for homes, knowing that securing a loan is no longer a concern. This confidence makes their offers more attractive in the marketplace and provides them with peace of mind.
Maintaining financial stability is crucial in retaining the Buyer Ready Pre-Approval status. Any changes in financial circumstances, such as financial delinquencies with the IRS or judgments, must be promptly communicated to the loan officer to prevent Buyer Failure. Effective communication among the Loan Officer, REALTOR, and the Buyer is key to aligning all parties with the buying strategy and ensuring a successful and stress-free home purchase.
Ready to Get Started? The first step is to undergo the Buyer Ready Pre-Qualification process to create a buying plan that suits the buyer's goals. Understanding the financial aspects and asking questions is vital. After receiving a Needs List, buyers would gather all necessary financial documents and submit them to the lending team. The Buyer Ready Pre-Approval service typically takes 72 hours, but it may extend up to 14 days if additional underwriting review is needed. Keeping finances in order and maintaining clear communication with the team are crucial throughout this period.
Once a Buyer Ready Pre-Approval is obtained and the buyer is ready to make an offer, Karen will provide the client with an updated Purchase Loan Analysis on the interested home. Numbers will be reviewed once again to ensure that all is within the plan and approved by the buyer. Furthermore, Karen will make a proactive call to the Listing Agent and share how strong of an offer they have. This proactive call has helped Karen's clients' win offers to purchase the home of their choosing.. Upon acceptance, the TBD loan file is converted to an actual purchase, then escrow is opened and the loan file moves to the processing stage.
Take the first step today and create a home-buying strategy with confidence. It's the smartest way to buy a new home!
