Posted on: 30th Aug, 2008 03:54 pm
I want to buy a house but I am a little hesitant to just jump in. I need to calculate my moves by being patient to find the best home that will also be a wise investment. However, when I do want to buy, I am strongly considering a "short sale" house, and I don't want to have to go through a lot of steps to try to get approved for the loan at the last minute.
So what I am asking is, should I get preapproved months in advance, or should I just request the loan at the time I desire to buy the short sale? :lol:
So what I am asking is, should I get preapproved months in advance, or should I just request the loan at the time I desire to buy the short sale? :lol:
Hi kevinn,
Welcome to forums.
I believe you should get pre-approved a few months ahead of buying the short sale home. After pre-approval, you'll have to get approved for the loan. Then the lender will hopefully involve underwriters to review your loan application prior to handing over the commitment letter. Also, take care of the fact that you don't have to pay any deficiency on the home you're buying.
Thanks
Welcome to forums.
I believe you should get pre-approved a few months ahead of buying the short sale home. After pre-approval, you'll have to get approved for the loan. Then the lender will hopefully involve underwriters to review your loan application prior to handing over the commitment letter. Also, take care of the fact that you don't have to pay any deficiency on the home you're buying.
Thanks