The Pre-Approval Process

Sharon Natarus January 28th, 2007

One of the highlights of my job is having the opportunity to help people buy their first home! I like to spend approximately 10-20 minutes on the phone to gather some information from the customer. The buyer will
probably know all of this information by memory. Here are some questions that I generally ask:

PERSONAL INFORMATION:

Name
Address for the past two years/name and phone number of landlord
Social security number and date of birth
Name and address of his/her employer for the last two years
Income: hourly, weekly, monthly or annual
Current Rent payment
Bank account numbers and balances

OTHER QUESTIONS:

Price range of the home they are looking for or a monthly payment he/she would be comfortable with Money saved for a down payment

PULLING CREDIT:

You do not want a lot of lenders pulling your credit. I would strongly suggest a referral from your realtor or friends that have been pleased with their mortgage lender. Having several lenders pull your credit will not adversely affect your credit score.

REVIEW OF INFORMATION:

The next step is the assessment of your financial situation. I generally follow up with my customers within 24 hours through e-mail, phone, or a personal meeting. I recommend several programs that would best meet their needs.

I have been assisting buyers for the last 19 years. The greatest compliment I can receive is referrals from customers. I am now assisting many children of my customers! I continue to be available to assist my customers with future financing questions. I have assisted many customers with moves across the city as well as across country. Wells Fargo financing 1 in every 8 homes throughout the country and we are approved in all 50 states to do business!

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